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Rights A company s stock currently sells for $63 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a...

13. Rights A company s stock currently sells for $63 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $12 and three rights. a. What is the ex-rights stock price? b. What is the price of one right? c. When will the price drop occur? d. Why will it occur then?

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