Cye, Inc., has 110,000 shares of stock outstanding. Each share is worth $41, so the companys market value of equity is $4,510,000. Suppose the firm issues 19,000 new shares at the following prices: $41, $38, and $33.

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.	$41	$	(Click to select)Price drops byNo changePrice raises by	$	per share
b.	$38	$	(Click to select)Price raises byPrice drops byNo change	$	per share
c.	$33	$	(Click to select)No changePrice drops byPrice raises by	$	per share