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Boles Bottling Company has issued rights to its shareholders. The subscription price is $ 4 6 and three rights are needed along with the subscription

Boles Bottling Company has issued rights to its shareholders. The subscription price is $46 and three rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $55 rights-on.
What would be the value of one right?
Note: Do not round intermediate calculations and round your answer to 2 decimal places.
If the stock goes ex-rights, what would the new stock price be?
Note: Do not round intermediate calculations and round your answer to 2 decimal places.

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