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Milne Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $78. The current price is $100 per share,
Milne Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $78. The current price is $100 per share, and there are 25 million shares outstanding. The rights offer would raise a total of $50 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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