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Pember Company started business in 2014 by issuing 200,000 shares of $20 par common stock for $36 each. In 2022, Pember Company purchases 30,000 of
Pember Company started business in 2014 by issuing 200,000 shares of $20 par common stock for $36 each. In 2022, Pember Company purchases 30,000 of these shares at $52 per share, to be held as treasury stock. These 30,000 shares were exchanged for a piece of property on June 15, 2020. The property's assessed value was $810,000. Perber's stock is actively traded, and on June 15, 2020, it had a market price of $60. The cost method is used to account for treasury stock. How much paid-in capital from treasury stock transactions would result? $673,000 $1,800,000 $240,000 $1,560,000
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