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Business, 25.04.2020 00:32 eduardo60

Tennstedt Company had the following stockholders' equity section:

Capital stock, par $10 (40,000 shares issued)

$400,000

Capital in excess of par value

115,000

Retained earnings, balance January 1, 2019

185,000

Revenues earned during 2019

800,000

Expenses (excluding income tax) incurred during 2019

640,000

Cash dividends declared and pain during 2019

60,000

Treasury stock (4,000 shares)

58,000

Income tax rate 30%

At what amount per share was the treasury stock purchased?

a.) $12.88.

b.) $10.00.

c.) $14.50.

d.) $15.00.

e.) Cannot determine with the information provided

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Answers: 1

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Tennstedt Company had the following stockholders' equity section:

Capital stock, par $1...
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