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Pastore Inc. granted options for 1 million shares of its $1 par common stock at...

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Accounting

Pastore Inc. granted options for 1 million shares of its $1 par common stock at the beginning of the current year. The exercise price is $30 per share, which was also the market value of the stock on the grant date. The fair value of the options was estimated at $5.50 per option.

If the options have a vesting period of five years, what would be the balance in "Paid-in Capital

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