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Astro Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $55,000. In addition, Astro received cash for 5,000 shares of its $15 par preferred stock at par value and 6,500 shares of its no-par common stock at $50 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ L .
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