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Raphael Corporation's balance sheet shows the following stockholders' equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares

authorized, issued, and outstanding$75,000Common stock$___ par value, 4,000 shares authorized, issued,

and outstanding180,000Retained earnings340,000Total stockholders' equity$595,000

1.What are the par values of the corporation's preferred stock and its common stock?