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JKL Company issued 1,000 shares of $50 par value preferred stock for $60 per share on February1st,2023.CalculatethetotalproceedsreceivedbyJKLCompanyfromtheissuance of preferred stock.

JKL Company issued 1,000 shares of $50 par value preferred stock for $60 per share on February 1st, 2023. Calculate the total proceeds received by JKL Company from the issuance of preferred stock.

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