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Business, 12.08.2019 22:20 0436500

On march 1, rya corp. issued 1,000 shares of its $20 par value common stock and 2,000 shares of its $20 par value convertible preferred stock for a total of $80,000. at this date, rya's common stock was selling for $36 per share, and the convertible preferred stock was selling for $27 per share. what amount of the proceeds should be allocated to rya's convertible preferred stock?

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