BL Timber stock sells for $56 a share.The firm has a rights offer outstanding for new equity shares.Lisa is a current stockholder and owns 300 shares.She just received one right for every share she owns.To purchase one new share she must submit five rights and $12.What is the value of one right?
A) $8.80
B) $7.33
C) $7.91
D) $9.33
E) $8.46
Correct Answer:
Verified
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