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Concord Corporation owned 16000 shares of Ivanhoe Corporation. These shares were purchased in 2017 for $130000. On November 15, 2021, Concord declared a property dividend of one share of Ivanhoe for every ten shares of Concord held by a stockholder. On that date, when the market price of Ivanhoe was $29 per share, there were 130000 shares of Concord outstanding. What gain and net reduction in retained earnings would result from this property dividend
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Concord Corporation owned 16000 shares of Ivanhoe Corporation. These shares were purchased in 2017 f...
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