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On August 1, Costco had 88,000 common shares outstanding. On this day the Costco board of directors declared a 5% share dividend. The fair market

On August 1, Costco had 88,000 common shares outstanding. On this day the Costco board of directors declared a 5% share dividend. The fair market value of each share was $10.

Calculate the number of shares being issued as a share dividend (not the value).

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