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Red Dog has announced a rights offering to raise $60 million. Its stock currently sells for $55 per share and there are 4.5 million shares

Red Dog has announced a rights offering to raise $60 million. Its stock currently sells for $55 per share and there are 4.5 million shares outstanding. The subscription price is set at $40 per share

How many shares must be sold?

How many rights will it take to buy one share?

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