CPA Far Quiz
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A company provides consulting services to a start-up entity. In lieu of cash, the company agrees to accept 5,000 shares of the start-up's common stock as payment. The services are performed during the month of May. The fair value of the shares was $10 per share at the contract inception on May 1 and $12 per share when the services were completed on May 31.
What is the transaction price of this contract?
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