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Damron, Incorporated, has 2 2 0 , 0 0 0 shares of stock outstanding. Each share is worth $ 8 2 , so the company's

Damron, Incorporated, has 220,000 shares of stock outstanding. Each share is worth $82, so the company's market value of equity is $18,040,000. Suppose the firm issues 50,000 new shares at the following prices: $82,$76, and $70. 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.)
\table[[,,ghts,Effect,Amount],[a. $82,$,82.00,No change,$,0,per share],[b. $76,,,Price drops by,$,1.11,per share],[c. $70,,,Price drops by,$,2.22,per share]]
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