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The market price of the common stock of PQR Inc. is $70 per share. There are 2,000 shares outstanding. PQR is considering a preemptive rights

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The market price of the common stock of PQR Inc. is $70 per share. There are 2,000 shares outstanding. PQR is considering a preemptive rights offering. Each current shareholder will get one right for every two shares owned. With each right plus a $40 payment a new share can be purchased. What will be the value of each right

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