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How much of the proceeds be allocated to the ordinary shares

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Question - NCT Corporation issued shares at a single price for $520,000.

10,000 shares of its $5 par value ordinary shares having a fair value of $25 per share

15,000 shares of its $15 par value preference shares having a fair value of $20 per share

How much of the proceeds would be allocated to the ordinary shares?

a. $236,364

b. $276,250

c. $250,000

d. $270,833

Reference no: EM132831838

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