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Agee Storage issued 34 million shares of its $1 par common stock at $18 per share several years ago. Last year, for the first time,

Agee Storage issued 34 million shares of its $1 par common stock at $18 per share several years ago. Last year, for the first time, Agee retired 1 million shares at $16 per share.

If Agee now retires 1 million shares at $22 per share, by what amount will Agees total paid-in capital decline?

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