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FYI: THIS IS A NEW SET OF PROBLEM WITH A NEW SET OF DATA.. PLEASE DO...

FYI: THIS IS A NEW SET OF PROBLEM WITH A NEW SET OF DATA.. PLEASE DO NOT PROVIDE OLD ANSWERS

Sheary, Inc., is proposing a rights offering. Presently, there are 800,000 shares outstanding at $58 each. There will be 80,000 new shares offered at $50 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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