MNE Corporation was incorporated on January 1 of the current year. On January 2, the...
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MNE Corporation was incorporated on January 1 of the current year. On January 2, the corporation issued 9,000 Class A common shares for $2.25 each (\$20,250 total) and 2,500 Class B preferred shares for $4 each ( $10,000 total). On September 1 of the current year, MNE Corporation issued another 3,500 Class A common shares for $5.25 each ( $18,375 total). Assuming these are the only share transactions during the current year, which of the following is the correct amount of Paid Up Capital for each Class A common share of MNE Corporation on December 31 of the current year? Choose the correct answer. (Round your answer to the nearest cent.) A. $5.25 B. $3.09 C. $5.79 D. $5.67
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