Question: The 2011 annual report for Philip Morris Companies Inc disclosed
The 2011 annual report for Philip Morris Companies, Inc., disclosed that 4 billion shares of common stock have been authorized. At the end of 2010, a total of 2,109,316,331 shares had been issued and the number of shares in treasury stock was 307,532,841. During the current year, no additional shares were issued, but additional shares were purchased for treasury stock and shares were sold from treasury stock. The net change was an increase of 75,874,824 shares of treasury stock. Determine the number of shares outstanding at the end of the current year.
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