When preferred stock is purchased by the issuing corporation at a price below the original issue price and the stock is retired, the transaction:

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When preferred stock is purchased by the issuing corporation at a price below the original issue price and the stock is retired, the transaction:

A. Increases net income for the year.
B. Increases retained earnings.
C. Increases revenue for the year.
D. Increases paid-in capital share repurchase.

Answer: D

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