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A company has 1 million shares in issue (par value $1). It makes a 1 for 4 bonus issue and then a 1 for 5 rights issue at $1.20. Calculate the total ordinary share capital balance after the above events. (Assume all rights were taken up) A. $1,500,000. B. $1,550,000. C. $1,300,000. D. $1,250,000. |