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What is the amount that will be credited to paid-in capital

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Problem 1: Arc Electric, Inc. has 400,000 shares of $10-par common stock outstanding. They have declared a 5% stock dividend. The current market price of the common stock is $18/share. What is the amount that will be credited to Paid-in Capital in Excess of Par Common Stock on the date of declaration?

Reference no: EM132692619

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