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A stock is trading ex rights; the market price per share of the common stock is $80; the subscription price is $62; and the number

A stock is trading ex rights; the market price per share of the common stock is $80; the subscription price is $62; and the number of rights is 5. Calculate the approximate value of a right.

A. $3.60

B. $3.00

C. $2.50

D. $2.00

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