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The Hotch Potch Company needs to raise 1.38 million of new equity capital. The current market price is 42/sh. They decide to raise new equity

The Hotch Potch Company needs to raise 1.38 million of new equity capital. The current market price is 42/sh. They decide to raise new equity capital via a 2 for 14 rights offer at 30 per share. If we assume 100% subscription, what is the value of each right?

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