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Please answer the following question. Thank you very much for your assistance. At the beginning of its fiscal year, Phalanx Inc. has 750 shares authorized,

Please answer the following question. Thank you very much for your assistance.

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At the beginning of its fiscal year, Phalanx Inc. has 750 shares authorized, 406 shares issued, and 115 shares of treasury stock. Three months later. employees of Phalanx purchased 31 shares from the company through an employee stock purchase plan at a 2096 discount to the market price of the stock. Phalanx then repurchased 49 shares into treasury stock. How many shares were outstanding after the employee share purchases and the repurchase of shares into treasury stock? 273

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