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A corporation purchases 28000 shares of its own $10 par common stock for $35 per share, recording it at cost. What will be the effect

A corporation purchases 28000 shares of its own $10 par common stock for $35 per share, recording it at cost. What will be the effect on total stockholders' equity? Increase by $980000 Decrease by $980000. Increase by $280000. Decrease by $280000

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