Problemtricki corp stock sells for 45 rights-on and the, Ask an Expert

Accounting

Problem:

Tricki Corp stock sells for $45 rights-on, and the subscription price is $35. Ten rights are required to purchase one share. Tomorrow the stock of Tricki will go ex-rights.

Required:

Question: What is the price of Tricki expected to be when it begins trading ex-rights?

$47.23
$44.00
$44.09
$45.00

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91170780

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