(Answered) 1 horton industries shareholders equity included 100

Accounting

1. Horton Industries' shareholders' equity included 100 million shares of $1 par common stock and a balance in paid-in capital-excess of par of $900 million. Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 2 million shares at $8.50 per share?

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