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Maro Merchant Bank plc is to issue N500,000 ordinary shares of 50k each at N 3.00 per share.
Applications were received for N1,550,000 shares fully paid, N1,250,000 shares are to be issued on a pro rata basis and excess subscriptions were dishonored and refunds made?
The refund due to an application for N25,000 shares is?

a

N45,000

b

N30,000

c

7,500

d

N5,000

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Correct Option
b

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Discussions (3)

Grace274
3 months ago

the answer is wrong...., the answer is 4839

Dboy1111
5 years ago

How

FINDX
1 year ago

the answer is wrong..., the answer is 14,512

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