Find the value of authorized share capital?

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

Answer is C

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