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"The Clifford Corporation has announced a rights offer to raise $35 million for a new journal, the Journal of Financial Excess. This journal will review potential articles after the author pays a nonrefundable reviewing fee of $3,500 per page. The stock currently sells for $40 per share, and there are 3.71 million shares outstanding.,,a.,,The maximum possible subscription price is $____. The minimum price is anything greater than $_____. (Do not include the dollar signs ($).),,b.,,If the subscription price is set at $28 per share,_____ shares must be sold. (Round your answer to the nearest whole number. (e.g., 32)) It will take ____rights to buy one share. (Round your answer to 2 decimal places. (e.g., 32.16)),,c.,,The ex-rights price is $____. The value of a right is $____. (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)),,d.,,Before and after the offering, the portfolio value of a shareholder who held 1,000 shares prior to the offering will be worth $____ and $____, respectively. "

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