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A hypothetical corporation, Cascade Strategic & Innovative Solutions, has decided to raise capital through a rights offering. The company has 2 , 0 0 0

A hypothetical corporation, Cascade Strategic & Innovative Solutions, has decided to raise capital through a rights offering. The company has 2,000,000 outstanding shares of stock with a market value of $55 per share. Cascade would like to raise an additional $15,000,000 in capital through a rights offering. The company will set the subscription price at $25 per new share. How many rights will be required to purchase 30 shares?
Group of answer choices
100 rights
300 rights
30 rights
10 rights

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