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Danone: Danone issued 10,000 shares of preferred stock with a par value of $100 per share on January 1, 20X1. The stock was issued at

  1. Danone: Danone issued 10,000 shares of preferred stock with a par value of $100 per share on January 1, 20X1. The stock was issued at $120 per share. Considering it's now December 31, 20X3, determine the total cash proceeds received from the issuance of preferred stock.

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