Montgomery & Co., a well-established law firm, provided 500 hours of its time to Fink Corporation and received 1,000 shares of Fink's $5 par common stock in exchange for services rendered. Montgomery's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's paid-in capital—excess of par increase for this transaction?
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Montgomery & Co., a well-established law firm, provided 500 hours of its time to Fink Corporatio...
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