A companys stock currently sells for $59 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $14 and 4 rights.

a.	What is the ex-rights stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Stock Price = $_________

b.	What is the price of one right? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Value of right = $________