Question: Computer Graphics has announced a rights offering for its shareholders. Carol Stevens owns 1 , 9 0 0 shares of Computer Graphics stock. Four rights

Computer Graphics has announced a rights offering for its shareholders. Carol Stevens owns 1,900 shares of Computer Graphics stock. Four rights plus $59 cash are needed to buy one of the new shares. The stock is currently selling for $77 rights-on.
a. What is the value of a right?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
b-1. How many of the new shares could Carol buy if she exercised all her rights?
Note: Do not round intermediate calculations. Round your answer down to the nearest whole number.
b-2. How much cash would this require?
Note: Round down the number of shares to the nearest whole number and round your answer to the nearest whole dollar.

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