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Agee Storage issued 45 million shares of its $1 par common stock at $22 per share several years ago. Last year, for the first time,
Agee Storage issued 45 million shares of its $1 par common stock at $22 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $20 per share. Assuming that Agee retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Agee's total paid-in capital decline if it now reacquires 1 million shares at $25 per share? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Answer is complete but not entirely correct. Total paid-in capital will decline by $ 23 X million
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