Vision Consulting Inc. has announced a rights offer. The company has announced that it will take nine rights to buy a new share in the offering at a subscription price of $36. At the close of business the day before the ex-rights day, the company's stock sells for $65 per share. The next morning, you notice that the stock sells for $64.10 per share and the rights sell for $3.90 each. Consider that the only factor that should affect share price is the rights offering.

Note: Please make sure your final answers are accurate to two decimal places.

a) What should be the value of the the ex-rights price per share?

Ex-rights price per share = $

b) Are the stocks correctly priced on the ex-rights day?

The stocks are(select one- CORRECTLY PRICED OR INCORRECTLY PRICED OR CAN'T DECIDE)on the ex-rights day

c) What is value of a right?

Value of a right = $

d) Are the rights correctly price on the ex-rights day?

The rights are(select one-UNDERPRICED, OVERPRICED, CORRECTLY PRICED OR CAN'T DECIDE))on the ex-rights day