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26. Dilan, Inc. is a publicly-traded cyber security company and it is considering a rights offer. The ex-rights price is $36 on the ex-rights day,

26. Dilan, Inc. is a publicly-traded cyber security company and it is considering a rights offer. The ex-rights price is $36 on the ex-rights day, whereas the rights-on price was $45. The company has 4 million shares outstanding curretly and they plan to raise $16 million through the rights offering. Calculate the subscription price.

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