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Lewelling Company issued 113,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 5,300 hours of legal services
Lewelling Company issued 113,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 5,300 hours of legal services performed. Morgans usual rate is $220 per hour. By what amount should Lewellings paid-in capitalexcess of par increase as a result of this transaction?
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