Montgomery & Company, a well-established law firm, provided580 hours of its time to Fink Corporation...
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Accounting
Montgomery & Company, a well-established law firm, provided580 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 $780 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's paid-in capitalexcess of par increase for this transaction?
Multiple Choice
$452,400
$447,400
$450,400
$402,400
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