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Waterway Industries issued 10500 shares of its $5 par value common stock having a fair value of $25 per share and 14200 shares of its

Waterway Industries issued 10500 shares of its $5 par value common stock having a fair value of $25 per share and 14200 shares of its $15 par value preferred stock having a fair value of $30 per share for a lump sum of $516000. How much of the proceeds would be allocated to the common stock?

$288750

$262500

$319268

$196732

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