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Financial Accounting

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Common Shares Changes, Outstanding Shares

FINACT-BISJ9G

Crudite Inc. has 20,000 shares of stock authorized at the beginning of Year 1. Crudite Inc. issues 4,500 shares to the stockholders during the year, and then the company repurchases 1,500 shares as treasury stock.

Based on this information, how many shares are outstanding at the end of Year 1?