Problem 21 Determine the amount of fresh issue of shares from following information relating to a company: (i) Redeemable Preference Share Capital $74,00,00,000 (ii) Premium on Redemption of Preference Shares 10% iii) Surplus Account $1,20,00,000 (iv) General Reserve $80,00,000 (v) Securities Premium Reserve Account 30,00,000 (Vi) Fresh issue to be made at a discount of 10% to the extent desirable for redemption of preference shares which could not otherwise be redeemed