Question: Computer Guru has announced a rights offering for its shareholders. Charles Joseph owns 1,500 shares of Computer Guru stock. Five rights plus $64 cash are

Computer Guru has announced a rights offering for its shareholders. Charles Joseph owns 1,500 shares of Computer Guru stock. Five rights plus $64 cash are needed to buy one of the new shares. The stock is currently selling for $76 rights-on. How many of the new shares could Charles buy if he exercised all his rights?

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