At the Start of the Year, Sanford Corporation Began the Year

Multiple Choice

At the start of the year, Sanford Corporation began the year with 750,000 in shares outstanding. On July 1, 60,000 shares were repurchased by the company, and another 40,000 shares were repurchased on December 1. Calculate the weighted average shares outstanding.

A) 706,000
B) 716,667
C) 726,667
D) 756,667
E) 806,667