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Chandler & Co. provided 450 hours of its time to Joey Corporation and received 1,000 shares of Joey's $5 par common stock in exchange for

Chandler & Co. provided 450 hours of its time to Joey Corporation and received 1,000 shares of Joey's $5 par common stock in exchange for services rendered. Chandler's usual billing rate is $650 per hour, and Joey's stock has a book value of $330 per share. By what amount will Joey's paid-in capital—excess of par increase for this transaction?


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