# Hurdle Corporation is authorized to issue 200,000 shares of common stock. In its only issuance to...

###### Question:

1. Hurdle Corporation is authorized to issue 200,000 shares of common stock. In its only issuance to date, Hurdle sold 50,000 shares. A few months later, Hurdle reacquired 5,000 of those issued shares with the intention of reissuing them all later. By the end of this year, Hurdle had reissued just 2,000 of the reacquired shares. The board of directors declared a 40-cent dividend at the end of the year. How many shares will receive a dividend?
1. 200,000
2.   50,000
3.   45,000
4.   47,000
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