[单选题]
A company currently has 10 million USD1 shares in issue with a market value of USD3 per share.The company wishes to raise new funds using a 1-for-4 rights issue. The theoretical ex rights price per share is USD2.80.How much new finance was raised by the rights issue?
A .USD2,500,000
B .USD4,000,000
C .USD5,000,000
D .USD7,000,000
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