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joe805
joe805
03.03.2020 • 
Business

In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. If Cox now sells 1 million treasury shares at $29 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox’s paid-in capital—share repurchase increase? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

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