Manning Company issued 12,000 shares of its $5 par value common stock having a fair value of $23 per share and 15,000 shares of its $15 par value preferred stock having a fair value of $18 per share for a lump sum or $520,000. How much of the proceeds would he allocated to the common stock? (Round to the nearest whole dollar). - $257,143 - $262,857 - $283,636 $236,364