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Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $82. The current price is $95 per share,

Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $82. The current price is $95 per share, and there are 21 million shares outstanding. The rights offer would raise a total of $70 million.

What is the subscription price? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

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