JAMB Commerce 2008 Question 14

Maimani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realised only 50% of the amount due.
What is the company's authorized share capital?

1. A.N2500 000
2. B.N4000 000
3. C.N5000 000
4. D.N7500 000