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I have posted this question 3 times and each time the answer I have received was incorrect. One is below, the other two were 58,807.12
I have posted this question 3 times and each time the answer I have received was incorrect. One is below, the other two were 58,807.12 and 58,825.20 please if you answer it double check that it is correct. Thank you.
Prahm Corp. wants to raise $5.3 million via a rights offering. The company currently has 630,000 shares of common stock outstanding that sell for $58 per share. Its underwriter has set a subscription price of $23 per share and will charge the company a spread of 6 percent If you currently own 6,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) & Answer is complete but not entirely correct. Your proceeds from sale of rights 58,824.77 Step by Step Solution
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