A companys stock currently sells for $87 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $28 and 3 rights.

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

Value of one right

$