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By what amount will Horton total paid-in capital decline

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Reference no: EM133176853

Question - Horton Industries shareholders' equity included 120 million shares of $1 par common stock and a balance in paid-in capital - excess of par of $1,080 million.

Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 1 million shares at $7.00 per share?

Reference no: EM133176853

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