ABC Corporation has declared a rights offering to stockholders of record on December

B. 12 shares for $228

Explanation:

Based on the information given we were told that shareholders will need 10 rights in order for him/her to subscribe to 1 new share at the amount of $19 and we were still told that the customer who was owning 111 shares as well wishes to subscribe which means that what the customer can buy will be calculated as :

111 / 10 = 11.1 shares approximately 12 shares

Hence,

12 shares × $19

=$228

Which means that the customer can buy 12 shares for the amount of $228

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