Question: 2 . A company issues 8 , 4 0 0 shares of $ 1 par common stock with a fair value e of $ 6

2. A company issues 8,400 shares of $1 par common stock with a fair value e of $6 per share (based upon a recent sale of 6 shares) for land. The land is recently appraised at $48,000 by independent and competent appraisers. a. Determine the cost used for recording the land acquired. Cost of land $??

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