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Maddy Bloody is the CEO of Bloody Wells Inc., a company that specializes in testing wells for contaminates in the South Island. They have decided

Maddy Bloody is the CEO of Bloody Wells Inc., a company that specializes in testing wells for contaminates in the South Island. They have decided to raise equity through a rights offering. The shares are trading rights on at a price of $30 and shareholders will require 6 rights and a subscription price of $18 to purchase a new share. Estimate the value of a Bloody Well share after the shares go ex rights.

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