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(10 marks) (b) Teck company has announced a rights issue to raise $60 million for a new project. The current price is $50 per share

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(10 marks) (b) Teck company has announced a rights issue to raise $60 million for a new project. The current price is $50 per share with 6 million shares outstanding. If the subscription price is $40 per share, Required: i. What is the prospective price of Teck company after the rights issue? (15 marks) ii. What is the value of a right? (10 marks)

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