What amount of the proceeds should be allocated

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Problem 1: Mouser Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $192,000. What amount of the proceeds should be allocated to the preferred stock?

a. $172,000
b. $90,000
c. $120,000
d. $104,727

Reference no: EM132836527

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