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Question - The following information was taken from the 2019 annual report of Coca-Cola (dollar and share amounts in millions):
Treasury Shares
Dollar Amount
2017 Share repurchases
82
$3,598
2018 Share repurchases
39
$1,746
2019 Share repurchases
21
$1,026
Required -
1. At what average price did the company repurchase its shares in 2017?
2. At what average price did the company repurchase its shares in 2018?
3. The December 31, 2019, balance in treasury stock was ($52,244). If Coca-Cola reissues treasury shares in the amount of $1,200 to support 2020 employee compensation plans, what will be the December 31, 2020, balance in the treasury stock account?
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