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PRT Co has one million shares in issue and is preparing to make a one-for-four rights issue. The current market price of the shares is $2.00. At what price should the new shares be offered so as to avoid a drop in the share price following the issue? You can assume that the earnings performance of the new funds will be the same as on the existing funds. A. $8.00 B. $2.00 C. 50c D. $4.00 |