Sierra Shipping has the following shareholders' equity at December 31: Common Stock, 5,000,000 shares authorized, $5 par value $1,100,000 Paid-in-Capital in Excess of Par Value $2,000,000 Retained Earnings $8,265,000 Treasury Stock (65,000 shares) $ 900,000 How many shares of stock are outstanding at December 31?

Select one:

A. 300,000

B. 155,000

C. 220,000

D. 295,000