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Boles Bottling Co. has issued rights to its shareholders. The subscription price is $76 and five rights are needed along with the subscription price to

Boles Bottling Co. has issued rights to its shareholders. The subscription price is $76 and five rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $95 rights-on. a. What would be the value of one right? (Do not round intermediate calculations and round your answer to 2 decimal places.)

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