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A company wants to raise $2,887,660 through a rights offering.The subscription or discounted price for the offering is set at $19.47 a share.Currently, the company

A company wants to raise $2,887,660 through a rights offering.The subscription or discounted price for the offering is set at $19.47 a share.Currently, the company has 103,450 common shares outstanding at a market price of $22.71 a share.How many rights will be needed to purchase one new common share in this offering?

0.70

0.71

0.73

0.75

0.77

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