A firm has the balance sheet accounts, common stock, and paid-in capital in excess of par, with values of R40,000 and R500,000, respectively. The firm has 40,000 common shares outstanding. If the firm had a par value of R1, the stock originally sold for

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 11P
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A firm has the balance sheet accounts, common stock, and paid-in capital in excess of par, with values of R40,000 and R500,000, respectively. The firm has 40,000 common shares outstanding. If the firm had a par value of R1, the stock originally sold for

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