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TOYSrYOU needs to raise $5 million in a rights offering. If the subscription price is $10 per share, the stock price is $12.50 per share,

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TOYSrYOU needs to raise $5 million in a rights offering. If the subscription price is $10 per share, the stock price is $12.50 per share, and there are 4 million shares outstanding, what will the stock sell for ex-rights? A) $12.36 B) $7.50 OC) $12.22 OD) $12.50 OE) $11.46

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