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By what amount will Fink paid-in capital-excess

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Reference no: EM132943243

Question - Montgomery & Co., a well-established law firm, provided 580 hours of its time to Fink Corporation and received 1,000 shares of Fink's $5 par common stock in exchange for services rendered. Montgomery's usual billing rate is $720 per hour, and Fink's stock has a book value of $300 per share. By what amount will Fink's paid-in capital-excess of par increase for this transaction?

Reference no: EM132943243

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