A corporation purchases 20000 shares of its own $20 par common stock for $35 per share recording it at cost.What will be the effect on total stockholders’ equity?

A corporation purchases 20000 shares of its own $20 par common stock for $35 per share recording it at cost.What will be the effect on total stockholders’ equity?
A)Increase by $700000.
B)Decrease by $400000.
C)Decrease by $700000.
D)Decrease by $300000.

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