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Hickock, Inc., is proposing a rights offering. Presently thereare 800,000 shares outstanding at $58 each. There will be 80,000new shares offered at $50 each.a. What is the new market value of the company? (Do not roundintermediate calculations.) New market value $ __________b. How many rights are associated with one of the new shares?(Do not round intermediate calculations.) Number of rights needed_____c. What is the ex-rights price? (Do not round intermediatecalculations. Round your answer to 2 decimal places, e.g., 32.16.)Ex-rights price $ ______d. What is the value of a right? (Do not round intermediatecalculations. Round your answer to 2 decimal places, e.g., 32.16.)Value of a right $ _____
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