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Milne Mfg . is considering a rights offer. The company has determined that the ex - rights price would be $ 9 2 . The

Milne Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $92. The current price is $99
per share, and there are 42 million shares outstanding. The rights offer would raise a total of $80 million.
What is the subscription price? (Round the final answer to 2 decimal places. Omit $ sign in your response.)
Subscription price
$
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