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The Following Information Is Available Regarding a Corporation's Common Shares

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The following information is available regarding a corporation's common shares: authorized 30,000 shares; issued 10,000 at $100,000; and 15,000 at $175,000. The average cost of the corporation's shares is

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Lapse of Time

The expiration of a period specified by statute, contract, or agreement after which legal rights may no longer be enforced or claims made.

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