Illustrate by what amount will fink paid in capital

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Reference no: EM13123556

Montgomery & Co., a well established law firm, provided 470 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par common stock. Mitchell's usual billing rate is $720 per hour, and Fink's stock has a book value of $340 per share. By what amount will Fink's Paid-in capital – excess of par increase for this transaction?

Reference no: EM13123556

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