A company carries out a fully subscribed rights issue of 100000 ordinary shares of $1 each at $1.20 per share. At that time, the market value of one share was $1.30. Half of the rights issue proceeds were used to repay a long-term loan. By what amount did the company’s capital employed rise?
- A$60000
- B$65000
- C$120000
- D$130000