Mr. and Mrs. Anderson own three shares of Magic Tricks Corporation's common stock. The market value of the stock is $70. The Andersons also have $58 in cash. They have just received word of a rights offering. One new share of stock can be purchased at $58 for each three shares currently owned (based on three rights). Required:
a. What is the value of a right?
b. What is the value of the Andersons’ portfolio before the rights offering?
c. Compute the diluted value (ex-rights) per share.
d. If they sell their two rights but keep their stock at its diluted value and hold on to their cash, what will be the value of their portfolio?

Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?

Alinguist had a gross income of 53,350 last year. if 17.9% of his income got witheld for federal income tax, how much of the linguist's pay got witheld for federal income tax last year?

On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?