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27-12-2023
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PSM Inc. has authorized share capital of 50 million. In its IPO, it sold 20 million shares. A private pension plan purchased 8 million shares of the IPO which it still holds. Several years later PSM. Inc. bought back 5 million shares. Calculate the number of outstanding shares.
1) 15 million
2) 50 million
3) 20 million
4) 7 million

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