Bluff, Inc.’s stock transactions during the year were as follows:
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January 1 90,000 common shares outstanding.
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April 1 20% stock dividend is declared and issued.
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October 1 10,000 shares are reacquired as treasury stock. What is Bluff’s weighted average number of shares outstanding during the year?
A. 98,000.
B. 105,500.
C. 101,000.
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