The corporate charter of Cullumber Corporation allows the issuance of a maximum of $4,300,000$ shares of $$1$ par value common

stock. During its first three years of operation, Cullumber issued $2,236,000$ shares at $$15$ per share. It later acquired $86,000$ of these

shares as treasury stock for $$25$ per share.

Based on the above information, answer the following questions:

$($a$)$

How many shares were authorized?

Authorized shares

shares