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 calculate the approximate number of shares issued, you simply divide the market cap by the stock price. So, \( \text{Number of Shares} = \frac{1,606,674}{27.87} \approx 57,613 \) shares when rounded to the nearest whole number. Just a fun fact: the concept of market capitalization was popularized in the 1980s as stock markets became more accessible to investors. This helped promote the idea that a company's value could be expressed in terms of its shares, making it easier for participants to gauge their investment value. In real-world application, understanding how to gauge the number of shares can help you make informed decisions when investing. Knowing the share count gives you insight into how much ownership you have in a company and can affect your strategy, especially when considering stock buybacks or dividend policies.