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How many shares must be issued

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Problem 1: Bolton Ltd currently has 200,000 issued shares trading at $3.50 per share and has announced a rights issue at a subscription rate of $1.30 per share. If the company intends to raise $ 26,000, how many shares must be issued?

a. 7,492

b. 26,000

c. 20,000

d. 153,846

Reference no: EM132964543

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