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P15-14 Selling Rights [LO4] Roth Corp. wants to raise $5.2 million via a rights offering. The...

P15-14 Selling Rights [LO4]

Roth Corp. wants to raise $5.2 million via a rights offering. The company currently has 480,000 shares of common stock outstanding that sell for $40 per share. Its underwriter has set a subscription price of $30 per share and will charge the company a 5 percent spread. If you currently own 7,600 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights? (Do not round your intermediate calculations.)
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Calculate the selling value of rights as follows:

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