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Atlas corp. wants to raise $4 million via rights offering. The company currently has 450,000...

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Accounting

Atlas corp. wants to raise $4 million via rights offering. The company currently has 450,000 share of common stock outstanding that sell for $40 per share. Its underwriter has set a subscription price of $24 per share and will charge the company a 7 percent spread. Assume that you currently own 7,200 shares of stock in the company and decide not to participate in the rights offering. How much money can you get for selling all of your rights?

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