Howard Comapny reacquired 6 million of its shares at $55 per share as treasury stock. Last year, for the first time, Howard sold 2 million treasury shares at $58 per share. Howard now sells the remaining 4 million treasury shares at $50 per share, by what amount will retained earnings decline?\$14 million.\$12 million.\$0 million.\$10 million.
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Since each share is sold at $50, the total value is 4 million shares * $50/share = $<<4*50=200>>200 million. Show more…
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