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A corporation purchases 26000 shares of its own $20 par common stock for $40 per share, recording it at cost. What will be the effect

A corporation purchases 26000 shares of its own $20 par common stock for $40 per share, recording it at cost. What will be the effect on total stockholders' equity? Increase by $1040000 Decrease by $1040000 Decrease by $520000 Decrease by $520000

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