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ences Brief Exercise 18-5 (Algo) Retirement of shares [LO18-5] Horton Industries' shareholders' equity included 230 million shares of $1 par common stock and a

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ences Brief Exercise 18-5 (Algo) Retirement of shares [LO18-5] Horton Industries' shareholders' equity included 230 million shares of $1 par common stock and a balance in paid-in capital - excess par of $2,070 million. Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 6 million shares at $8.50 per share? (Enter your answer in millions (i.e.. 10,000,000 should be entered as 10).) Total paid-in capital will decline by million

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