Assume that in exercise 20.4 Dumbarton Ltd announced the rights issue at the beginning of its reporting period (1 July 2023) and the last date for exercising the rights was 1 October 2023. Dumbarton Ltd announced profit attributable to ordinary shareholders of $9 175 for the full reporting period.

Required 

Use the theoretical ex-rights value per share determined in Exercise 20.4 to calculate the adjustment factor, and calculate adjusted basic earnings (cents) per share.