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In 2 0 2 4 , Carla Vista, Inc. issued 9 5 0 0 0 shares of $ 1 0 0 par value convertible preferred

In 2024, Carla Vista, Inc. issued 95000 shares of $100 par value convertible preferred stock for $103 per share. Each share of
preferred stock can be converted into three shares of Carla Vista's $20 par value common stock at the option of the preferred
stockholder. In August 2025, all of the preferred stock was converted into common stock. The market value of the common stock at
the date of the conversion was $25 per share. What amount will be credited to additional paid-in capital from common stock as a
result of the conversion?
$2660000
$3800000
$4085000
$3040000
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