Grange Corporation issued 80,000 shares of $1.20 par value common stock. Later that year, Grange purchased 14,000 shares of its own common stock. Two months later, it reissued 2,400 shares. How many shares are issued and outstanding?

A. 80,000 issued and 80,000 outstanding

B. 80,000 issued and 68,400 outstanding

C. 82,400 issued and 68,400 outstanding

D. 94,000 issued and 91,600 outstanding