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MaRussiya [10]
3 years ago
8

Mountain Mining requires $3.3 million to expand its current operations and has decided to raise these funds through a rights off

ering at a subscription price of $18 a share. The current market price of the company's stock is $24.70 a share. How many shares of stock must be sold to fund the expansion plans?a. 140,015 sharesb. 118,943 sharesc. 126,667 sharesd. 135,000sharese. 105,689 shares
Business
1 answer:
DedPeter [7]3 years ago
3 0

Answer:

183,333.33 shares

Explanation:

The computation of the shares of stock need to be sold is shown below:

= Total amount required to expand its current operations ÷ subscription price

= $3,300,000 ÷ $18 per share

= 183,333.33 shares

This is the answer and the same is not provided in the given options

We simply divide the Total amount required to expand its current operations by the subscription price so that the accurate shares can come.

All other information which is given is not relevant. Hence, ignored it

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Answer: SEE EXPLANATION!

Explanation:

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Swift showed an interest in music at an early age, and she progressed quickly from roles in children’s theatre to her first appearance before a crowd of thousands. She was age 11 when she sang “The Star-Spangled Banner” before a Philadelphia 76ers basketball game, and the following year she picked up the guitar and began to write songs. Taking her inspiration from country music artists such as Shania Twain and the Dixie Chicks, Swift crafted original material that reflected her experiences of tween alienation. When she was 13, Swift’s parents sold their farm in Pennsylvania to move to Hendersonville, Tennessee, so that she could devote more of her time to courting country labels in nearby Nashville. A development deal with RCA Records allowed Swift to make the acquaintance of recording-industry veterans, and in 2004, at age 14, she signed with Sony/ATV as a songwriter. At venues in the Nashville area, she performed many of the songs she had written, and it was at one such performance that she was noticed by record executive Scott Borchetta. Borchetta signed Swift to his fledgling Big Machine label, and her first single, “Tim McGraw” (inspired by and prominently referencing a song by Swift’s favourite country artist), was released in the summer of 2006.

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Answer:

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Please see attachment

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