Question: Answer the given question. A mere yes or no will not merit any points. Cite the applicable provision in your explanation. X Corporation has already

Answer the given question. A mere yes or no will not merit any points. Cite the applicable provision in your explanation.

X Corporation has already issued the 1000 originally authorized shares of the corporation so that its Board of Directors and stockholders wish to increase X's authorized capital stock. After complying with the requirements of the law on increase of capital stock, X issued an additional 1000 shares of the same value. Assume that stockholder A presently holds 200 out of the 1000 original shares.

Would A have a preemptive right to 200 of the new issue of 1000 shares? Why?

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