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What percentage of bonus issue that directors should declare

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Reference no: EM132513017

The directors of Pete Corporation, whose P50 par value ordinary share is currently selling at P70 per share, have decided to declare a bonus issue. Pete has an authorization fro 250,000 ordinary shares, has issued 100,000 shares of which 10,000 shares are now held as treasury, and desires to capitalize P945,000 of the retained balance.

Question 1: Find To accomplish this, the percentage of bonus issue that the directors should declare is

Reference no: EM132513017

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