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Montgomery & Co., a well-established law firm, provided 580 hours of its time to Fink Corporation and received 1,000 shares of Fink's $5 par common
Montgomery & Co., a well-established law firm, provided 580 hours of its time to Fink Corporation and received 1,000 shares of Fink's $5 par common stock in exchange for services rendered. Montgomery's usual billing rate is $790 per hour, and Fink's stock has a book value of $230 per share. By what amount will Fink's paid-in capital-excess of par increase for this transaction? Multiple Choice $453,200. $458,200. $456,700. $409,900
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