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Planet Co. issues 300,000 shares of $4 par value common stock to acquire Star Co. in a business combination. The market value of Planet's common
Planet Co. issues 300,000 shares of $4 par value common stock to acquire Star Co. in a business combination. The market value of Planet's common stock is $16. Planet incurs legal and appraisal fees of $100,000 with the combination and stock issue costs of $40,000. What should be recorded in a Planet's additional paid-in capital account for this business combination? (Answer in form "xx,xxx")
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