Moullerart mfg. is considering a rights offer . The company has determined the ex rights price will be $72. The current price is $82 per share, and...

Moullerart mfg. is considering a rights offer . The company has determined the ex rights price will be $72. The current price is $82 per share, and there are 40 million shares outstanding. The rights offer would raise a total of $80 million. What is the subscription price ? Round your answer 2 decimal places, e.g 32.16