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Knight Inventory Systems, Inc., has announced a rights offer. The company has announced that it will take three rights to buy a new share in

Knight Inventory Systems, Inc., has announced a rights offer. The company has announced that it will take three rights to buy a new share in the offering at a subscription price of $41. At the close of business the day before the ex-rights day, the company's stock sells for $60 per share. The next morning, you notice that the stock sells for $52 per share and the rights sell for $2 each.
What is the value of the stock ex-rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Stock ex-rights
What is the value of a right? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g.,32.)
Value of a right
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