Cimaroli Inventory Systems, Inc., has announced a rights offer. The company has announced that it will take three rights to buy a new share in the offering at a subscription price of $37. At the close of business the day before the ex-rights day, the company's stock sells for $59 per share. The next morning, you notice that the stock sells for $48 per share and the rights sell for $2 each. a. What is the value of the stock ex-rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the value of one right? Calculate your answer based on the actual ex-rights price. (Do not round intermediate calculations.) c. Are the rights underpriced or overpriced? d. What is the amount of instant profit you can make on ex-rights day per share? (Do not round intermediate calculations.) a. Stock price ex rights b. Value of one right c. Are the rights underpriced or overpriced? d. Instant profit