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Damron, Incorporated, has 255,000 shares of stock outstanding. Each share is worth $89, so the company's market value of equity is $22,695,000. Suppose the firm

image text in transcribed Damron, Incorporated, has 255,000 shares of stock outstanding. Each share is worth $89, so the company's market value of equity is $22,695,000. Suppose the firm issues 64,000 new shares at the following prices: $89,$83, and $77. 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.)

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