Question
Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $70. The current price is $75.00 per share
Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $70. The current price is $75.00 per share and there are 2.5 million shares outstanding. The rights offer would raise a total of $9,375,000.
How many rights are required to get a new share?
Round your answer to the nearest integer.
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
