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Barrett Mfg. Is considering a rights offer. The company has determined that the ex-rights price will be $95. The current price Is $102 per share

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Barrett Mfg. Is considering a rights offer. The company has determined that the ex-rights price will be $95. The current price Is $102 per share and there are 24 million shares outstanding. The rights offer would ralse a total of $60 million. What Is the subscription price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Subscription price

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