PSM Inc. has authorized share capital of 50 million. In its IPO, it sold 20 million shares. A private pension plan purchased 8 million shares of the IPO which it still holds. Several years later PSM. Inc. bought back 5 million shares. Calculate PSM Inc.'s public float.
1) 50 million
2) 7 million
3) 20 million
4) 15 million
