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Sheridan Limited purchased 42,900 call options during the year. The options give the company the right to buy its own common shares for $10 each.

Sheridan Limited purchased 42,900 call options during the year. The options give the company the right to buy its own common shares for $10 each. The average market price during the year was $13 per share. Assume that Sheridan also wrote put options that allow the holder to sell 42,900 of Sheridans shares to Sheridan at $15 per share. Calculate the incremental shares outstanding for Sheridan Limited

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