Select financial data for Ewing Oil Inc. is provided in the table belo

Select financial data for Ewing Oil Inc. is provided in the table below. Ewing Oil repurchased $4.75B worth of shares during the year at an average price of $25. How many shares are outstanding at the end of the year?

Ewing Oil Inc.
Selected Financial Information
Shares outstanding at beginning of Year 1.86B
Price at beginning of Year $25
Value of company beginning of Fiscal 46.5B

A) 1.67B
B) 1.86B
C) 1.97B
D) 2.05B
E) 2.19B

ANSWER

A