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The market price of Mulva Corporation's common stock is $60 per share, and each share gives its owner one subscription right. Four rights are required to purchase an additional share of common stock at the subscription price of $54 per share. If Mulva's common stock is currently selling "rights-on," the theoretical value of a right is closest to A. $1.20 B. $1.50 C. $6.00 D. $0.96 |