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Turner Limited had 40,000 common shares on January I, 2014. On April I, 8,000 shares were repurchased.

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Turner Limited had 40,000 common shares on January I, 2014. On April I, 8,000 shares were repurchased. On August 31, 12,000 shares were issued. Calculate the number of shares outstanding at December 31, 2014, and the weighted average number of shares for 2014.
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