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Farr Demolition stock sells for $23 per share. The firm has a rights offer outstanding for new equity shares. DeAndrea currently owns 200 shares. She

Farr Demolition stock sells for $23 per share. The firm has a rights offer outstanding for new equity shares. DeAndrea currently owns 200 shares. She just received one right for every share she owns. To purchase one new share she must submit four rights and $18.40. What is the value of one right?

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$5.75
$0
$.92
$3.68
$4.60

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