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What average price received by compact

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Reference no: EM132713073

Problem 1: Compact Corporation has 50,000,000 common shares, authorized, and 16,697,000 shares issued and outstanding with a market value of $0.01 each at the time of issue (the issue proceeds) and a current market value of $0.03 per common share. Its total contributed capital is $199,623,000. The average price received by Compact for one common share was

Multiple Choice

Option 1: $0.01

Option 2: $3.99

Option 3: $21.13

Option 4: $11.96

 

Reference no: EM132713073

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