Question # 7

At fiscal year end, December 31,2017, Alpha Corporation had total stockholder's equity of $10,500,000. There is only one class of common stock and no preferred stock. On January 1, 2017, the common stock account was value at $500,000. On July 1, 2017, Alpha issued $15,000 additional shares of its $5 par account stock for $15 per share. Use this information to determine the book value as of end of the FY2017. (Round your answer to the nearest penny).

Please include solutions.

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