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23 A firm's current share price is 4. It has 50m shares in issue and plans to sell a further 10m shares in a 1

23 A firm's current share price is 4. It has 50m shares in issue and plans to sell a further 10m shares in a 1 for 5 rights issue at a price of 3 per share. What is the ex-rights price?

a.

3.53

b.

3.83

c.

4.83

d.

3.50

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