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Determine the authorized shares

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Question - The charter of Vista West Corporation specifies that it is authorized to issue 208,000 shares of common stock. Since the company was incorporated, it has sold a total of 144,000 shares (at $16 per share) to the public. It has bought back a total of 13,000. The par value of the stock is $5. When the stock was bought back from the public, the market price was $28. Determine the authorized shares.

Reference no: EM133123964

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