The Rikamoe Corporation has 30,000 shares outstanding with a current market price of $7.20 per share. The company needs to raise an additional $36,000 to finance new expenditures, and has decided on a rights issue. The issue will allow current stockholders to purchase one additional share for 30 rights at a subscription price of $5 per share.Calculate the ex-rights price that would make a new stockholder indifferent between buying shares at the old stock price and exercising the rights or buying the shares ex-rights.

options:

	$7.13
	$7.20
	$6.97
	$7.36