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Koti Ltd underwrites 45% of an issue of 950 000 ordinary shares at R9 each in Ph...
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Koti Ltd underwrites 45% of an issue of 950 000 ordinary shares at R9 each in Pholo Ltd. The underwriting commission is 5% and the public takes up 880 000 shares.
REQUIRED:
Which one of the following amounts will be the liability of the underwriter?
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