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A company with 3,000,000 shares outstanding that sell for $60 each has announced a rights offer to raise $6,000,000. If it will take 3 rights
A company with 3,000,000 shares outstanding that sell for $60 each has announced a rights offer to raise $6,000,000. If it will take 3 rights to buy 1 share at the subscription price of $45 via the rights offering, what is the value of 1 right?
Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.
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