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Mountain Products has decided to raise $8 million via a rights offering. The company will issue one right for each sharg of stock outstanding. The

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Mountain Products has decided to raise $8 million via a rights offering. The company will issue one right for each sharg of stock outstanding. The subscription price is set at $25 per share. The current market price of the stock is $30.70 and there are 1,584,000 shares currently outstanding. What is the value of one right? $0.53 $0.76 $0.87 $0.96 $1.09

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