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Nine rights are necessary to purchase one share of Fogel stock at $50. A right sells for a $4. The ex-rights urvalue of Fogel stock

Nine rights are necessary to purchase one share of Fogel stock at $50. A right sells for a $4. The ex-rights urvalue of Fogel stock is

a) $70

b) $46

c) $ 66

d) none of these

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