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The New Corporation has announced a rights offer to raise $72 million. The stock currently sells for $24 per share and there are 72 million
The New Corporation has announced a rights offer to raise $72 million. The stock currently sells for $24 per share and there are 72 million shares outstanding.
If the subscription price is set at $8 per share, 9 million shares must be sold.
Given that 9,000,000 new shares will be sold, how many rights will it take to buy one share?
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