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Spectre Co. has 80,000 shares of CS outstanding. On 1/1/ B, Phantasm them, at (of course!) $13 each. On that date, S has nov consisting

Spectre Co. has 80,000 shares of CS outstanding. On 1/1/ B, Phantasm them, at (of course!) $13 each. On that date, S has nov consisting of: CS $500k APIC/ OCC 100k RE 200k S' books show $20k in GW on ...

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