Shasta Products Company issues $5,000$ shares of its $$10$ par value common stock having a fair value of $$53$ per share and $8,000$ shares of its $$20$ par value preferred stock having a fair value of $$45$ per share for a lump sum of $$775,000.$ How much should be allocated to common and to preferred?

Type

Number of Shares

Mkt$.$ Value

Total

Percent

Allocation