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A CFO of a company with a market capitalization of $13. The firm has 111 million shares outstanding, so the shares are trading at $13.61

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A CFO of a company with a market capitalization of $13. The firm has 111 million shares outstanding, so the shares are trading at $13.61 per share. Each existing shareholder is sent one right for every share he or she owns. The CFO has not decided how many rights he will require to purchase a share of new stock. He will require either 3 rights to purchase one share at a price of $8.24 per share, or 4 rights to purchase two new shares at a price of $6.6 per share. How much money will the first approach raise? NOTE: Answer in Millions. If your answer is 403.2799M, answer 403.28

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