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Your firm currently has 38 million shares outstanding. The shares trade at a price of $89. The firm is planning to issue another 8 million

Your firm currently has 38 million shares outstanding. The shares trade at a price of $89. The firm is planning to issue another 8 million shares in a rights offer. The subscription price will be $66. How many rights will be needed to buy one of the new shares in the firm's rights offer?

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