To finance the construction of a new plant, Pietersen Corporation must raise an additional $10,000,000 of equity capital through the sale of commom stock. The firm currently has an EPS of $5.40 and a P/E ratio of 10, with 1,200,000 shares outstanding. If the firm wants ex-rights price to be $50, what subscription price must it set on the new shares? A. $50.00 B. $29.55 C. $39.28 D. $33.78 E. $41.80