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AAA has 30 million shares of stock outstanding at a price of $28 per share. The company wishes to raise more money and plans to

AAA has 30 million shares of stock outstanding at a price of $28 per share. The company wishes to raise more money and plans to do so through a rights issue. Every existing stockholder will receive one right for each share of stock held. For every 2 rights held by the stockholder, they can buy 1 share at a price of $25. If all rights are exercised, how much money will be raised in this offer?

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