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Sheridan Company issues 3300 shares of its $5 par value common stock having a fair value of $20 per share and 5300 shares of its

Sheridan Company issues 3300 shares of its $5 par value common stock having a fair value of $20 per share and 5300 shares of its $10 par value preferred stock having a fair value of $25 per share for a lump sum of $205800. What amount of the proceeds should be allocated to the preferred stock?

$193282

$68426

$153680

$137373

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