ExxonMobil repurchased common shares during 2011 and, as a result, the Treasury Stock account increased by $20,324 million. The market price of ExxonMobil shares averaged $81.50 per share during the year. There were 8,019 million shares issued and 3,285 million shares in the treasury at year-end. The condensed 2011 shareholders’ equity section of the balance sheet showed the following (dollars in millions):
Common stock, no par ........... $ 9,512
Earnings reinvested ............. 330,939
Treasury stock ............... (176,932)
Other ................... (2,774)
Total stockholders’ equity .......... $160,745
1. Estimate the number of shares repurchased for the treasury.
2. Compute the book value per share at December 31, 2011.