Out West, Inc. wants to raise $14 million through a rights offering so it can build a new retail super store. How many shares of stock will the firm need to sell through this offering if the current stock price is $52 a share and the subscription price is $45 a share?
A) 269,231 shares
B) 288,660 shares
C) 311,111 shares
D) 328,660 shares
E) 333,333 shares
Correct Answer:
Verified
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