Problemin previous years cox transport reacquired 2 million, Ask an Expert

Finance

Problem:

In previous years, Cox Transport reacquired 2 million treasury shares at $22 per share and, later, 1 million treasury shares at $28 per share.

Required:

Question: By what amount will Cox's paid-in capital-share repurchase increase if it now sells 2 million treasury shares at $32 per share and determines cost of treasury shares by the FIFO method?

Note: Please describe comprehensively and provide step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91175051

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