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Bunker Company has 4 , 000 , 000 shares of $1 each in issue. These shares are traded on the stock market at a current

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Bunker Company has 4 , 000 , 000 shares of $1 each in issue. These shares are traded on the stock market at a current market price of $4 each. The company now decides to make a 1 for 4 rights issue at $3.20 per share. Required: i. Calculate the total value of the rights issue. ii. Show the effect of the rights issue in the statement of financial position

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