Question: PART B IS INCORRECT $5.25 DOES NOT WORK. ALL OTHER PARTS ARE DONE JUST NEED PART B Knight Inventory Systems, Inc., has announced a rights

PART B IS INCORRECT $5.25 DOES NOT WORK. ALL OTHER PARTS

PART B IS INCORRECT $5.25 DOES NOT WORK. ALL OTHER PARTS ARE DONE JUST NEED PART B

Knight Inventory Systems, Inc., has announced a rights offer. The company has announced that it will take three rights to buy a new share in the offering at a subscription price of $49. At the close of business the day before the ex-rights day, the company's stock sells for $70 per share. The next morning, you notice that the stock sells for $58 per share and the rights sell for $2 each. What is the value of the stock ex-rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete and correct. Stock ex-rights $ 64.75 || What is the value of a right? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) X Answer is complete but not entirely correct. Value of a right $ 5%

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