Disaster Cleanup stock sells for $46 a share.The firm has a rights offer outstanding for new equity shares.Antonio is a current stockholder and owns 400 shares.He just received one right for every share he owns.To purchase one new share he must submit three rights and $15.What is the value of one right?
A) $7.75
B) $8.33
C) $7.91
D) $8.04
E) $8.46
Correct Answer:
Verified
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