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The current market price of a rights-on stock is $90. The subscription price is $81. The number of rights required to purchase one new share

The current market price of a rights-on stock is $90. The subscription price is $81. The number of rights required to purchase one new share is 8. What is the approximate market price of one right?

A. $0.88

B. $1.00

C. $1.13

D. $1.25

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