In previous years, Cox Transport reacquired 3 million treasury shares at $25 per share and, later, 1 million treasury shares at $29 per share. If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox's paid-in capital-share repurchase increase? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Paid-in capital-share repurchase will increase by million
In previous years, Cox Transport reacquired 3 million treasury shares at $25 per share and, later, 1 million treasury shares at $29 per share. If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox's paid-in capital-share repurchase increase? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Paid-in capital-share repurchase will increase by million
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 12P
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Question
![In previous years, Cox Transport reacquired 3 million treasury shares at $25 per share and, later, 1 million treasury shares at $29 per
share.
If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by
what amount will Cox's paid-in capital-share repurchase increase?
Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10).
Paid-in capital-share repurchase will increase by
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb0eb0dfe-1cfa-48ed-accf-4d234009c3ba%2F31a6b98c-5c99-4d91-ae86-afa18ffc273e%2Fupj2sif_processed.png&w=3840&q=75)
Transcribed Image Text:In previous years, Cox Transport reacquired 3 million treasury shares at $25 per share and, later, 1 million treasury shares at $29 per
share.
If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by
what amount will Cox's paid-in capital-share repurchase increase?
Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10).
Paid-in capital-share repurchase will increase by
million
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