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1 P Ltd. acquires 80% of S Ltd. (8,000 of S Ltd's shares) for $72,000 by paying $9 per share. S Ltd. shares are trading

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1 P Ltd. acquires 80% of S Ltd. (8,000 of S Ltd's shares) for $72,000 by paying $9 per share. S Ltd. shares are trading for $7.75 per share at acquisition date. What was the implied value of 100% investment in S Ltd ? E $72,000 $90,000 $87,500 None of these

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