Jupiter Stores Ltd $($JSL$)$ has decided to raise new capital by making a placement of ordinary shares to Gipps Capital Ltd $($GCL$).$ The placement increases the number of JSL shares on issue by $11\%$ and is made at a discount of $4\%$ to the JSL market price.

GCL makes a capital gain that is closest to:

$($A$)3\mathrm{.}75\%$

$($B$)4\mathrm{.}00\%$

$($C$)6\mathrm{.}73\%$

$($D$)7\mathrm{.}00\%$

Group of answer choices

B

A

C

D