Solved: A company ’ s stock currently sells for $ 6 1 per share

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A company’s stock currently sells for $61 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $15 and 4 rights.

a. What is the ex-rights stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b. What is the price of one right?

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Solved: A company ’ s stock currently sells for $ 6 1 ﻿per share

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