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Question - Ivanhoe Limited had 41,700 common shares outstanding on January 1, 2020. On March 1, 2020, Ivanhoe issued 19,200 shares in exchange for equipment. On July 1, Ivanhoe repurchased and cancelled 10,500 shares. On October 1, 2020, Ivanhoe declared a 1-for-2 reverse stock split.
Required - Calculate the weighted average number of shares outstanding for Ivanhoe for the year ended December 31, 2020.
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