Required information [The following information applies to the questions displayed below.] The charter of the Corinthos Corporation specifies that it is authorized to issue 207,000 shares of common stock. Since the company was incorporated, it has sold a total of 159,000 shares (at $16 per share) to the public. It has bought back a total of 13,000 . The par value of the stock is $6. When the stock was bought back from the public, the market price was $26. Required: 1. Determine the authorized shares