Delta Corporation’s corporate charter authorizes the company to sell 450,000,000 shares of $1.50 par common stock. As of December 31, 2011, the company had issued 180,915,000 shares of common stock for an average price of $4 each. Delta has 57,000,000 shares of treasury stock. How many shares of common stock will be disclosed as authorized, issued, and outstanding on the December 31, 2011, balance sheet?
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