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How much proceeds would be allocated to the common stock

Problem:

Manning Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share, and 15,000 shares of its $15 par value preferred stock having a market value of $20 per share, all for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock?

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Finance Basics: How much proceeds would be allocated to the common stock

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Finance Basics: How much proceeds would be allocated to the common stock

Reference No:- TGS02071337

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