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Question 1: Coy, Inc. initially issued 300,000 shares of $1 par value stock for $1,600,000 in 2009. In 2010, the company reacquired and retired 30,000 shares for $120,000. In 2011, Coy, Inc. sold 10,000 shares for $140,000. In its balance sheet dated December 31, 2011, Coy, Inc.'s total paid-in capital is,
Group of answer choices
Option 1: None of the above is correct.
Option 2: $1,660,000.
Option 3: $1,780,000.
Option 4: $1,620,000
Explain the difference between a minor breach and a material breach to your client. how each party can be discharged from their liabilities.
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