Oceana Ltd Issued 1 000 000 Ordinary Shares on 21

Multiple Choice

Oceana Ltd issued 1 000 000 ordinary shares on 21 November 20X1 under the following terms:
Issue price: $2.50
Initial called up amount: $1.00
Call of $0.75 on 21 May 20X2
Final call of $0.75 on 21 November 20X2
Peter Smith was issued 10 000 shares and his friend Wilma Jones was issued 20 000 shares.
-Ignoring transactions costs, the total capital received by Oceana Ltd on 21 November 20X1 would be:

A) $2 500 000
B) $1 500 000
C) $1 000 000
D) $750 000