Pharoah Limited had 41,400 common shares outstanding on January 1, 2020. On March 1, 2020, Pharoah issued 20,400 shares in exchange for equipment. On July 1, Pharoah repurchased and cancelled 11,400 shares. On October 1, 2020, Pharoah declared and issued a 10% stock dividend. Calculate the weighted average number of shares outstanding for Pharoah for the year ended December 31, 2020. (Round answer to 0 decimal places, e.g. 5,275.)

Weighted average number of shares outstanding

:_______