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A company with 7,000,000 shares outstanding that sell for $70 each has announced a rights offer to raise $4,000,000. If it will take 4 rights

A company with 7,000,000 shares outstanding that sell for $70 each has announced a rights offer to raise $4,000,000. If it will take 4 rights to buy 1 share at the subscription price of $55 via the rights offering, what is the ex-rights price per share?

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