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Question(s) / Instruction(s):

A corporation purchases 20,000 shares of its own $35 par common stock for $20 per share, recording it at cost. What will be the effect on total stockholders' equity? A) Increase by $700,000. B) Decrease by $400,000. C) Decrease by $700,000. D) Decrease by $400,000. E) None of the above is a correct answer.

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