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b. Calculate the average issue price of the common stock sold in 19X6
In my accounting class I am learning about preferred and common stock. For this question I have this information:
Common stock, $10 par value 2,350,000 for 19X6. What is the average issue price of the common stock sold in that year? I thought the answer was found by dividing the total by the par value, but realize that is wrong. What suggestions can you give for finding the correct answer? Thank you in advance. |
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