問題：Sutton Co has announced a 1 for 3 rights issue at a subscription price of $2.00.
　　The current cum-rights price of the shares is $3.04.
　　What is the theoretical value (to the nearest cent) of the right per existing share?
　　A. $0.26
　　B. $0.35
　　C. $1.04
　　D. $0.78
　　答案：The correct answer is:$0.26.
　　For three existing shares worth: 3 x 3.04 = $9.12
　　One new share is issued: 1 x 2.00 = $2.00
　　The total value of the holding after the issue is:
　　$9.12 + $2.00 = $11.12
　　The theoretical ex-rights price per share is' where indicated $11.12 / 4 shares = $2.78
　　Theoretical MV ex-rights' with 'The theoretical ex-rights price of $2.78 less subscription price of $2.00 = $0.78 Divided amongst the three existing shares
　　= 26c per share