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Jefferson Refining is issuing a rights offering wherein every shareholder will receive one right for each share of equity they own. The new shares in

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Jefferson Refining is issuing a rights offering wherein every shareholder will receive one right for each share of equity they own. The new shares in this offering are priced at 21 plus 3 rights. The current market value of the equity is 75 million with 3 milion shares outstanding. What is the value of one right? Show your steps

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