Problem 15-8 Price Dilution [LO3]

1. Nemesis, Inc., 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 andthe 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.)