Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each.
Determine the amount received on application and allotment
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A.
#224,950
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B.
#225,000
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C.
#324,950
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D.
#325,000
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JAMB 2014