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19. For a one-for-four renounceable rights issue, priced at $5.45 for a new share with the share currently trading at $5.60 cum rights, work out

19. For a one-for-four renounceable rights issue, priced at $5.45 for a new share with the share currently trading at $5.60 cum rights, work out the theoretical ex-rights share price.

Select one:

a. $5.55

b. $5.57

c. $5.60

d. $5.65

e. $5.75

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