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The corporate charter of Hunter Corporation allows the issuance of a maximum of 2,000,000 shares of $1 par value common stock. During its first three
The corporate charter of Hunter Corporation allows the issuance of a maximum of 2,000,000 shares of $1 par value common stock. During its first three years of operation, Hunter issued 1,200,000 shares at $15 per share. It later acquired 100,000 of these shares as treasury stock for $25 per share. Based on this information, how many shares are outstanding?
1,300,000 shares
1,200,000 shares
1,900,000 shares
1,100,000 shares
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