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Posted: August 11th, 2024

Agee Storage issued 43 million shares of its $1 par common stock at

Agee Storage issued 43 million shares of its $1 par common stock at $18 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $16 per share.Assuming that Agee retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Ageeâs total paid-in capital decline if it now reacquires 1 million shares at $22 per share?

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