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4. Manning Company issued 10,000 shares of its S5 par value common stock having a fair value of $25 per share and 15,000 shares of

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4. Manning Company issued 10,000 shares of its S5 par value common stock having a fair value of $25 per share and 15,000 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $520,000. How much of the proceeds would be allocated to the common stock? a. $250,000 b. $236,364 c. $283,636 d. $276,250

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