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QUESTION
Rinehart Corporation purchased from its stockholders 5,500 shares of its own previously issued stock for $275,000.
Rinehart Corporation purchased from its stockholders 5,500 shares of its own previously issued stock for $275,000. It later resold 1,700 shares for $53 per share, then 1,700 more shares for $48 per share, and finally 2,100 shares for $42 per share.
