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Montgomery & Co, a well-established law firm, provided 550 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par
Montgomery & Co, a well-established law firm, provided 550 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par common stock. Montgomery's usual billing rate is $680 per hour, and Fink's stock has a book value of $270 per share. By what amount will Fink's Paid-in capital-excess of par increase for this transaction
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