The issued ordinary share capital of a company at the beginning of a period was $240 000 (nominal value $0.60 per share).
A rights issue of one share for every five held was made during the period at a price of $0.90 per share. At that time the market price was $1.10 per share.
What was the issued ordinary share capital after the rights issue?
$288 000
2 )
$292 800
3 )
$312 000
4 )
$328 000
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