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Wellington Jumbo Crab's stock currently sells for $100 per share. Last week the firm issued rights to raise new equity. To purchase a new share,

image text in transcribed Wellington Jumbo Crab's stock currently sells for $100 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $20 and three rights. What is the price of one right? A. $60 B. $40 C. $20 D. $80

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