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Langley Corporation has 5 0 , 0 0 0 shares of $ 1 0 par value common stock outstanding. It declares a 1 5 %

Langley Corporation has

50, 000

shares of $

10

par value common stock outstanding. It declares a

15 %

stock dividend on December

1

when the market price per share is $

16 .

The dividend shares are issued on December

31 .

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