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Sunland Company issues 6100 shares of its $5 par value common stock having a fair value of $25 per share and 9100 shares of its

Sunland Company issues 6100 shares of its $5 par value common stock having a fair value of $25 per share and 9100 shares of its $15 par value preferred stock having a fair value of $30 per share for a lump sum of $303000. The proceeds allocated to the common stock is

$126500

$194404

$152500

$108596

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