Damron, Incorporated, has 175,000 shares of stock outstanding. Each share is worth $73, so the...
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Damron, Incorporated, has 175,000 shares of stock outstanding. Each share is worth $73, so the company's market value of equity is $12,775,000. Suppose the firm issues 32,000 new shares at the following prices: $73,$67, and $61. What will be the ex-rights price and the effect of each of these alternative offering prices on the existing price per share? (Leave no cells blank; if there is no effect select "No change" from the dropdown and enter "0". Round your answers to 2 decimal places, e.g., 32.16.)
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