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ClearAsMudd Corp has 375,000 shares of common stock outstanding at a market price of $88.00. The company has just announced a rights offering for $13.5

ClearAsMudd Corp has 375,000 shares of common stock outstanding at a market price of $88.00. The company has just announced a rights offering for $13.5 million at a subscription price of $102. What is the ex-rights price? a) $88.00 b) $91.65 c) $102.00 d) $81.66 e)$97.93

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