Arc electric inc has 400000 shares of 10-par common stock, Financial Management

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Arc electric inc has 400000 shares of 10-par common stock

Arc Electric, Inc. has 400,000 shares of $10-par common stock outstanding. They have declared of 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?

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Financial Management: Arc electric inc has 400000 shares of 10-par common stock

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