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A company issued 5,000 shares of its $7 par value common stock having a market value of $70 per share and 3,000 shares of its

A company issued 5,000 shares of its $7 par value common stock having a market value of $70 per share and 3,000 shares of its $13 par value preferred stock having a market value of $50 per share for a lump sum of $461,000. How much will be recorded for Paid-in Capital in Excess of Par c/s?

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