Allen owns 500 of the 5000 shares outstanding of General Myopics. GM plans to issue 600 new shares. If Allen has preemptive rights, he may:
A) buy all 600 shares before anyone else.
B) buy 600 shares at the same price he paid for the other stock.
C) buy 6 shares at a discount of 10%.
D) None of these.
Correct Answer:
Verified
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