Rights offering [LO17-3] Boles Bottling Co. has issued rights to its shareholders. The subscription price is $87 and seven rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $97 rights-on. a. What would be the value of one right? (Do not round Intermediate calculations and round your answer to 2 decimal places.) Value of one right b. If the stock goes ex-rights, what would the new stock price be? (Do not round Intermediate calculations and round your answer to 2 decimal places.) New stock price
