In previous years, Cox Transport reacquired 3 million treasury shares at $22 per share and, later, 2 million treasury shares at $27 per share.By what amount will Cox's paid-in capital-share repurchase increase if Cox now sells 2 million treasury shares at $30 per share and determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).)
In previous years, Cox Transport reacquired 3 million treasury shares at $22 per share and, later, 2 million treasury shares at $27 per share.By what amount will Cox's paid-in capital-share repurchase increase if Cox now sells 2 million treasury shares at $30 per share and determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).)
Chapter23: Corporate Restructuring
Section: Chapter Questions
Problem 12P
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