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Bonita Industries issued 9800 shares of its $5 par value common stock having a fair value of $30 per share and 15500 shares of its

Bonita Industries issued 9800 shares of its $5 par value common stock having a fair value of $30 per share and 15500 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $517000. How much of the proceeds would be allocated to the common stock?

$251652 $320250 $265348 $294000

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