The Board of Directors of Challenger, Inc. has authorized 10,000 shares of stock at a price of $200/share. Currently, there are 7,000 shares issued with 6,000 outstanding. If Challenger, Inc wanted to raise more capital, how much capital could it raise by selling shares? $600,000 $800,000 $1,400,000 $2,000,000

The Board of Directors of Challenger, Inc. has authorized 10,000 shares of stock at a price of $200/share. Currently, there are 7,000 shares issued with 6,000 outstanding. If Challenger, Inc wanted to raise more capital, how much capital could it raise by selling shares? $600,000 $800,000 $1,400,000 $2,000,000

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 8M

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