Given:

N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000

Find the value of authorized share capital?

• A.13 000 000
• B.12 000 000
• C.9 000 000
• D.15 700 000
• E.