Multiple Choice
The Smooth Sail Corporation intends to issue 50,000 new shares to raise funds for expansion of current plant facilities. The current share price is $40 and there are 500,000 shares outstanding. The number of rights needed to buy a share of stock should be:
A) 1.
B) 10.
C) 40.
D) 400.
E) indeterminate without the subscription price
Correct Answer:
Verified
Correct Answer:
Verified
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