Apple is considering a rights offering. As of now, there are 1,000,000 shares outstanding at 70 dollars each. The company is proposing 200,000 new shares offered at 55 dollars each. What is the value of a right? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16)

Answer rating: 100% (QA)

To calculate the value of a right in a rights offering you ... View the full answer