A corporation purchases 76000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders' equity? O Decrease by $2280000 O Increase by $2280000 O Decrease by $3420000 O Increase by $3420000 Save for Later Attempts: 0 of 1 used Submit Answer

A corporation purchases 76000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders' equity? Decrease by $2280000 Increase by $2280000 Decrease by $3420000 Increase by $3420000