A stock company is undertaking a seasoned equity offering with the following features:

* 5:1:€10 (number of old shares : number of new shares : price per new share in €)

* The share price (closing price) on the last trading day before the ex-subscription rights day is €22.

Task:

Before the seasoned equity offering an investor owns 100 shares and €2,000 in cash. She is going to exercise all her subscription rights. The value of the subscription right is €2.

Calculate the value of her shares immediately after she has exercised all subscription rights (on the morning of the ex-date), in €, with 2 decimal places (like, e.g., 7.12 (English TUWEL version) or 7,12 (German TUWEL version)), without %-sign.