BFAR Corp.'s 3,000 preference shares with a par value of PHP 10 per share were subscribed for PHP 18 per share. On the d

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answerhappygod
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BFAR Corp.'s 3,000 preference shares with a par value of PHP 10 per share were subscribed for PHP 18 per share. On the d

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BFAR Corp.'s 3,000 preference shares with a par value of PHP 10per share were subscribed for PHP 18 per share. On the date ofsubscription, the subscriber paid 30% of the total subscriptionprice. Afterwards, the subscriber paid 10% of the unpaid balance.After numerous attempts of collection, no payment was received fromthe subscriber and the subscription was declared as delinquent.Interest amounting to PHP 1,229 is charged to the delinquentsubscriber. The company had the delinquent subscription auctionedand advertising cost amounted to PHP 9,704.
How much should the highest bidder offer topay?
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