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Sunland Company issues 4300 shares of its $5 par value common stock having a fair value of $25 per share and 6300 shares of its

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Sunland Company issues 4300 shares of its $5 par value common stock having a fair value of $25 per share and 6300 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $205200. What amount of the proceeds should be allocated to the preferred stock? $9470 $127036 $166638 $110729

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