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Able Co. bought 51,000 shares in Baker on 1.1.2011. Baker had 60,000 shares in
issue on this date.Able Co. paid $1.25 for every share in Baker and gave Baker’s shareholders 3
shares for every 2 shares acquired. The nominal value of Able’s shares is $1 per
share and their fair value at the date of acquisition has $2.30.
What was the consideration Able has paid to control Baker?
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