Mitsl Inventory Systems, Inc., has announced a rights offer. The company has announced

that It will take five rights to buy a new share in the offering at a subscription price of

$$33.$ At the close of business the day before the ex$-$rights day, the company's stock sells

for $$54$ per share. The next morning, you notice that the stock sells for $$44$ per share

and the rights sell for $$2$ each.

What price should the stock sell for ex$-$rights? $($Do not round Intermedlate calculations

and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Ex$-$rights price

What is the value of one right? $($Do not round Intermedlate calculatlons and round your

answer to the nearest whole number, e$.$g$.,32.)$

Value of one right

Are the rights underpriced or overpriced?

Underpriced

Overpriced

What is the amount of Instant profit you can make on ex$-$rights day per new share? $($Do

not round Intermedlate calculations and round your answer to the nearest whole

number, e$.$g$.,32.)$

Instant profit