Boles Bottling Company has issued rights to its shareholders. The subscription price is $44 and eight rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $53 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