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Apple Computers is planning on building a store. It needs $6 million for this project. Currently, the firm has 400,000 shares of stock outstanding. The

Apple Computers is planning on building a store. It needs $6 million for this project. Currently, the firm has 400,000 shares of stock outstanding. The market price of the stock is $76 a share. Apple Computers decides to raise the needed capital through a rights offering wherein every stockholder will receive one right for every share of stock they own. The subscription price will be $72. About how many rights will be needed to purchase one new share of stock in this offering?

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