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What total cost of the new investment should be recorded

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Question - Joowj Corporation issued rights to subscribe its stock, the ownership of 4 shares entitling the shareholders to subscribe for 1 share at P100. PepaPink Company owns 50,000 shares of Joowj Corporation with total cost of P5,000,000. The share is quoted right-on at 125.

What total cost of the new investment should be recorded if all of the stock rights are exercised by the investor?

Reference no: EM133168160

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