Hickock, Inc., is proposing a rights offering. Presently there are 200,000 shares outstanding at $45 each. There will be 25,000 new shares offered at $40 each.

a.	What is the new market value of the company? (Do not round intermediate calculations.)

New market value

$

b.	How many rights are associated with one of the new shares? (Do not round intermediate calculations.)

Number of rights needed

c.	What is the ex-rights price? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Ex-rights price

$

d.	What is the value of a right? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Value of a right

$