Boles Bottling Co. has issued rights to its shareholders. The subscription price is $50 and five rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $65 rights-on.

a.What would be the value of one right?(Do not round intermediate calculations and round your answer to 2 decimal places.)

b.If the stock goes ex-rights, what would the new stock price be?(Do not round intermediate calculations and round your answer to 2 decimal places.)