A companys stock currently sells for $79 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $24 and 4 rights.
What is the ex-rights stock price? Recall that the ex-rigths price is the new share price after the rights have been isued. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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.)