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Dill owns five percent of the outstanding shares in Pickle Ltd,which has just announced a one for five rights issue with a subscription price of

Dill owns five percent of the outstanding shares in Pickle Ltd,which has just announced a one for five rights issue with a subscription price of $1.90.The current 'cum rights' price for Pickle shares is $2.20.If the number of outstanding shares in Pickle Ltd is 5000,calculate the value of Dill's investment ex-right?

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