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Company B is considering a rights offer. The company has determined that the ex-rights price would be $71. The before offering price is $76 per

Company B is considering a rights offer. The company has determined that the ex-rights price would be $71. The before offering price is $76 per share, and there are 20 million shares outstanding. The rights offer would raise a total of $60 million. What is the subscription price?

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