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4 Horton Industries' shareholders' equity included 280 million shares of $1 par common stock and a balance in paid-in capital-excess of par of $2,520 million.
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Horton Industries' shareholders' equity included 280 million shares of $1 par common stock and a balance in paid-in capital-excess of par of $2,520 million. Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 6 million shares at $8.50 per share? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10)Step by Step Solution
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