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The balance sheet of Alex Bros. follows:
Assets $840,000,
Liabilities $300,000,
Preferred stock 50,000,
Common stock 300,000,
Additional paid-in capital100,000,
Retained earnings, 130,000
Less:
Treasury stock(40,000)
Total assets$840,000
Total liabilities and shareholders' equity $840,000
Question 1: Compute the par value of the issued common shares.
Question 2: Compute the book value of each common share. (Round answer to 2 decimal places, e.g. 1.25.)
Question 3: At what average price were the treasury shares purchased?
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