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Barkley, Inc

question 81

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Barkley, Inc.sold $30, 000 of 8% bonds for $40, 200.Each $1, 000 bond carried eight rights and each right allowed the holder to acquire one share of $10 par stock for $16 a share.After the issuance of the securities, the bonds were quoted at 104 and the rights were quoted at $4 each.Later, one-half of the rights were exercised.At date of exercise, how much should be credited to Additional Paid-in Capital?

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