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Q 3 . The management of LTTP Corp. is preparing for issuing equity to fund a new project. Rights offer is used. The company has

3 .

The management of LTTP Corp. is preparing for issuing equity to fund a new project. Rights offer

is used. The company has determined that the ex

-

rights price would be $

53 .

The current price is $

58

per share, and there are

10

million shares outstanding. The rights offer would raise a total of $

45

million. What is the subscription price?

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