If 30% of the purchase consideration was in cash and the rest by 50k shares. How many shares issued?

For the purpose of conversion of a partnership to a company, a total purchase consideration of N3.6m was paid. If 30% of the purchase consideration was in cash and the rest by 50k shares. How many shares issued?

A. N1080 000
B. N2 160 000
C. N3 600 000
D. N5 040 000

Correct Answer:

Option D – N5 040 000