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Cye, Inc., has 135,000 shares of stock outstanding. Each share is worth $59, so the companys market value of equity is $7,965,000. Suppose the firm

Cye, Inc., has 135,000 shares of stock outstanding. Each share is worth $59, so the companys market value of equity is $7,965,000. Suppose the firm issues 20,000 new shares at the following prices: $59, $56, and $51. 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. $59 $ $ per share b. $56 $ $ per share c. $51 $ $ per share

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