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ABC Company issued 1 0 , 0 0 0 shares of its $ 5 par value common stock having a fair value of $ 2

ABC Company issued 10,000 shares of its $5 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 and the preferred stock? (use the grid below for your calculations):

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