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Prahm Corp. wants to raise $4.8 million via a rights offering. The company currently has 540,000...

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Finance

Prahm Corp. wants to raise $4.8 million via a rights offering.The company currently has 540,000 shares of common stockoutstanding that sell for $49 per share. Its underwriter has set asubscription price of $24 per share and will charge the company aspread of 6 percent.

If you currently own 7,000 shares of stock in the company anddecide not to participate in the rights offering, how much moneycan you get by selling your rights? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)

Your proceeds from the sale of rights?

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Prahm Corp. wants to raise $4.8 million via a rights offering.The company currently has 540,000 shares of common stockoutstanding that sell for $49 per share. Its underwriter has set asubscription price of $24 per share and will charge the company aspread of 6 percent.If you currently own 7,000 shares of stock in the company anddecide not to participate in the rights offering, how much moneycan you get by selling your rights? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)Your proceeds from the sale of rights?

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