Can someone explain this to me? Why is this showing up in planning board?

This should show the Time remaining but it shows this. What does this mean?

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1 accepted

This looks like your project administrator has set up 408 hr to be the Time Remaining Min and Max value in version statistics. This document explains how you configure statistics in GreenHopper: http://confluence.atlassian.com/display/GH/Configuring+Statistics

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