Pinder Ltd currently has 20 million shares outstanding that are trading at \$12 per share. Pinder Ltd wants to raise $4 million for a new investment and announces a 1-for-10 rights issue with a subscription price of $2 per share. What should be the share price of Pinder Ltd once it begins trading ex-rights? Round to the nearest two digits. $13.92 $11.09 None of the other answers are correct. $12.03$12.98