Use the following information to answer the given question.
| Net profit for the year | N75.000 |
| Ordinary share capital of 50 kobo each | N65,000 |
| 10% Preference shares of 50 kobo each | N100,000 |
A. N20,000
B. N10,500
C. N10,000
D. N7,500
Correct Answer: Option C
B. N10,500
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