Question: Solve this question using an easy to understand approach OBJECTIVE TEST QUESTIONS : SECTION 1 58 A company currently has 15 million $1 shares in

Solve this question using an easy to understand approach

OBJECTIVE TEST QUESTIONS : SECTION 1 58 A company currently has 15 million $1 shares in issue with a market value of $5 per share. The company wishes to raise new funds using a 1 for 3 rights issue. If the theoretical ex. rights price per share turns out to be $4.80, how much new finance was raised? A $21 million B $24 million C $207 million D $213 million

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