Bears & Sox LLC, a well-established law firm, provided 500 hours of its time to Falcon Corporation and received 1,000 shares of Falcon's $5 par common stock in exchange for services rendered. Bear & Sox's usual billing rate is $740 per hour, and Falcon's stock has a book value of $340 per share. By what amount will Falcon's paid-in capitalexcess of par increase for this transaction?

Multiple Choice

• $365,000.

• $288,400.

• $367,000.

• $370,000.