a$.$ During $2007,$ Merck repurchased a number of its own common shares on the open market.

$$ i$.$ Describe the method Merck uses to account for its treasury stock transactions.

$$ ii$.$ Refer to note $11$ to Merck$$s financial statements.$$ How many shares did Merck repurchase on the open market during $2007?$

$$ iii.$$ How much did Merck pay, in total and per share, on average, to buy back its stock during $2007?$ What type of cash flow does this represent?

$$ iv$.$ Why doesn$$t Merck disclose its treasury stock as an asset?