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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

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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 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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