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Compute the proceeds allocated to the preferred stock

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Question - Sheffield Corp. issued 5300 shares of its $10 par value common stock having a fair value of $25 per share and 7800 shares of its $15 par value preferred stock having a fair value of $25 per share for a lump sum of $253000. The proceeds allocated to the preferred stock is

$196800

$150641

$102359

$195000

Reference no: EM132280313

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