Question 3 of 15, Step 1 of 1 If a certain company has a market cap of \( 1,606,674 \) and its current stock price is \( \$ 27.87 \), approximately how many shares of the company have been issued? Round your answer to the nearest whole number of shares. Answer Keypad Keyboard Shortcui

To find the approximate number of shares of the company that have been issued, we can use the formula: \[ \text{Number of shares} = \frac{\text{Market cap}}{\text{Current stock price}} \] Given: - Market cap = \( 1,606,674 \) - Current stock price = \( \$27.87 \) Substitute the values into the formula: \[ \text{Number of shares} = \frac{1,606,674}{27.87} \] Now, we can calculate the number of shares. Calculate the value by following steps: - step0: Calculate: \(\frac{1606674}{27.87}\) - step1: Convert the expressions: \(\frac{1606674}{\frac{2787}{100}}\) - step2: Multiply by the reciprocal: \(1606674\times \frac{100}{2787}\) - step3: Reduce the numbers: \(535558\times \frac{100}{929}\) - step4: Multiply: \(\frac{535558\times 100}{929}\) - step5: Multiply: \(\frac{53555800}{929}\) The approximate number of shares of the company that have been issued is approximately 57,648.87. Rounding this to the nearest whole number of shares, we get approximately 57,649 shares.