Sheary, Inc., is proposing a rights offering.
Sheary, Inc., is proposing a rights offering. Presently, there are
500,000 shares outstanding at $56 each. There will be 100,000 new shares offered at $48 each.
a. What is the new market value of the company? (Do not round intermediate calculations.)
New market value $
b. How many rights are associated with one of the new shares? (Do not round intermediate calculations.)
Number of rights needed rights
c. What is the ex-rights price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Ex-rights price $
d. What is the value of a right? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Value of a right $
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