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On April 30, 20x1, Jeffrey F. Co. received from its Investment in equlty securities 20,000 stock rights to subscribe to new shares at P75 per

On April 30, 20x1, Jeffrey F. Co. received from its Investment in equlty securities 20,000 stock rights to subscribe to new shares at P75 per share for every 5 rights held. Immediately after Issuance of stock rights, the shares were selling at P100 per share. How much is the initial carrying amount of the stock rights? * 100000

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