Pharoah Limited had 42,900 common shares outstanding on January 1, 2020. On March 1, 2020, Pharoah issued 18,900 shares in exchange for equipment. On July 1, Pharoah repurchased and cancelled 11,700 shares. On October 1, 2020, Pharoahdeclared and issued a 12% 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.)