Solved: What is the ex-rights stock price, Managerial Accounting

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What is the ex-rights stock price

Response to the following problem:

A company's stock currently sells for $63 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $12 and three rights.

What is the ex-rights stock price?

What is the price of one right?

When will the price drop occur? Why will it occur then?

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Managerial Accounting: What is the ex-rights stock price

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Managerial Accounting: What is the ex-rights stock price

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