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A corporation purchases 40000 shares of its own $15 par common stock for $30 per share, recording it at cost. What will be the effect
A corporation purchases 40000 shares of its own $15 par common stock for $30 per share, recording it at cost. What will be the effect on total stockholders equity?
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| Increase by $600000 |
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| Decrease by $1200000 |
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| Increase by $1200000 |
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| Decrease by $600000 |
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