The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 sharesauthorized and 10,000 shares issued, 9,000 shares outstanding$100,000Paid-in capital in excess of par value, common stock50,000Retained earnings25,000Treasury stock11,500Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:
A. 21,000.
B. 575.
C. 1,150.
D. 1,000.
E. 11,000.
Answer: D
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Indicate whether the statement is true or false.