The corporate charter of Pina Colada Corporation allows the issuance of a maximum of $31,500,000$ shares of $$1$ par value

common stock. During its first three years of operation, Pina issued $2,450,000$ shares at $$16$ per share. It later acquired

$38,000$ 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?

Authorised shares

shares