Following is the stockholders equity section of the Saints, Inc. 20X8 balance sheet ($ in thousands):

	20X8
Common stock, $0.0001 par value (shares authorized240,000,000, shares issued 73,549,872)	7
Additional paid-in capital	551,004
Treasury stock, at cost 4,223,670 shares	(218,692)
Retained earnings	1,063,633
Accumulated other comprehensive loss	(1,345)
Total shareholders equity	$1,394,607

Required:.

a. Saints has 240 million shares of common stock authorized, but only 73,549,872 shares issued. Why is there a difference between these two numbers?

b. Verify that Saints common stock balance is $7 thousand.

c. How many common shares did Saints have outstanding at the end of the year?

d. Calculate the average cost at which Saints repurchased its common stock.