Canterbury, Inc., has 100,000 shares of stock outstanding. Each share is worth $27, so the companys market value of equity is $2,700,000. Suppose the firm issues 23,000 new shares at the following prices: $58, $55, and $50.

What will be the ex rights price and the effect of each of these alternative offering prices on the existing price per share? (Leave no cells blank; if there is no effect select "No change" from the dropdown and enter "0". Round your answers to 2 decimal places. (e.g., 32.16))

		Price Ex Rights	Effect	Amount
a.	$58	$	(Click to select)Price drops by, No change, ,Price raises by	$	per share
b.	$55	$	(Click to select)No change, Price drops by, Price raises by	$	per share
c.	$50	$	(Click to select)Price raises by, No change, Price drops by	$	per share