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Find the proceeds allocated to the common stock

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Reference no: EM132630122

Question - Sunland Company issues 6200 shares of its $5 par value common stock having a fair value of $30 per share and 9200 shares of its $10 par value preferred stock having a fair value of $20 per share for a lump sum of $318000. Find the proceeds allocated to the common stock?

a. $158141

b. $159859

c. $160000

d. $186000

Reference no: EM132630122

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