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Prime Bankcorp has issued rights to its shareholders. The subscription price is $50 and five rights are needed along with the subscription price to buy

Prime Bankcorp has issued rights to its shareholders. The subscription price is $50 and five rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $59 rights-on. A. What would be the value of one right? B. If the stock goes up ex-rights, what would be the new stock price be? Please show all work

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