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retired 1 million shares at $15 per share. If Agee now retires 1 million shares at $20 per share, by what amount will Agee's total paid-in capital decline? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Total paid-in capital will decline by million

retired 1 million shares at $15 per share. If Agee now retires 1 million shares at $20 per share, by what amount will Agee's total paid-in capital decline? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Total paid-in capital will decline by million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Agee Storage issued 42 million shares of its $1 par common stock at $17 per share several years ago. Last year, for the first time, Agee retired 1 million shares at $15 per share. If Agee now retires 1 million shares at $20 per share, by what amount will Agee's total paid-in capital decline? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Total paid-in capital will decline by million
Transcribed Image Text:Agee Storage issued 42 million shares of its $1 par common stock at $17 per share several years ago. Last year, for the first time, Agee retired 1 million shares at $15 per share. If Agee now retires 1 million shares at $20 per share, by what amount will Agee's total paid-in capital decline? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). Total paid-in capital will decline by million
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