Multiple Choice
The Timken Company has announced a rights offer to raise $25 million for a new journal,the Journal of Financial Excess.This journal will review potential articles after the author pays a nonrefundable reviewing fee of $2,500 per page.The stock currently sells for $48 per share,and there are 2.6 million shares outstanding.The subscription price is set at $43 per share.What is the ex-rights price per share?
A) $45.58
B) $47.09
C) $48.15
D) $48.80
E) $49.42
Correct Answer:
Verified
Correct Answer:
Verified
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