On January 1, 2026, Sheridan Corp. had 2,868,000 shares of common stock issued and outstanding. During 2026, it had the following transactions that related to common stock.

Mar. 1

Issued 252,000 shares in exchange for land

Apr. 1

Acquired 219,000 shares of treasury stock

July 1

Issued a 20% stock dividend

Sept. 1

Reissued 262,800 shares of treasury stock

(adjusted for 20% stock dividend)

Oct. 1

Issued a 2-for- 1 stock split

(a)

Determine the weighted-average number of shares outstanding as of December 31, 2026.