If 30% of the purchase consideration was in cash and the rest by 50k shares, how many shares issued?

For the purpose of conversion of a partnership to a company, a total purchase consideration of N3.6m was paid. If 30% of the purchase consideration was in cash and the rest by 50k shares, how many shares issued?

A N1080 000

B N2 160 000

C N3 600 000

D N5 040 000

Answer is D