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A firm has decided to raise $5 million via a right offering. The firm will issue one right for each share of stock outstanding. The

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A firm has decided to raise $5 million via a right offering. The firm will issue one right for each share of stock outstanding. The subscription price is set at $10 per share. The current market price of the stock is $15 and there are 1,500,000 shares currently outstanding. What is the value of one right? Multiple Choice 0.75 1.50 1.25 2.10

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