Apple is considering raising 100 million dollars through rights offering. The company currently has 5 million shares outstanding that sell for 50 dollars per share. Its underwriter has set a subscription price of 40 dollars per share and will charge the company a spread of 5 percent. If you currently own 5,000 shares of Apple stock and decide not to participate in the rights offering, how much money will you receive from selling your rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16)

Answer rating: 100% (QA)

To calculate how much money you will receive from selling your rights we need t... View the full answer