Your farm encompasses 900 acres, and you are planning to grow soybeans, corn, and wheat in the coming planting season. Fertilizer costs per acre are: $5 for soybeans, $2 for corn, and $1 for wheat. You estimate that each acre of soybeans will require an average of 5 hours of labor per week, while tending to corn and wheat will each require an average of 2 hours per week. Based on past yields and current market prices, you estimate a profit of $9,000 for each acre of soybeans, $6,000 for each acre of corn, and $3,000 for each acre of wheat. You can afford to spend no more than $5,400 on fertilizer, and your farm laborers can supply 5,400 hours per week. How many acres of each crop should you plant to maximize total profits

Answers

Answer 1

Answer:

Using solver, the optimal solution = 900 acres of soybean resulting in $8,100,000 profit

Explanation:

you need to maximize 9000S + 6000C + 3000W

where:

S = acres of soybean

C = acres of corn

W = acres of wheat

constraints:

S + C + W ≤ 900

5S + 2C + 1W ≤ 5400

5S + 2C + 2W ≤ 5400

S, C, W ≥ 0

S, C, W are whole numbers

Using solver, the optimal solution = 900 acres of soybean resulting in $8,100,000 profit


Related Questions

What type of wave is sound?
A. Electromagnetic
B. Longitudinal
C. Transverse
D none of the above

Answers

Answer:

b longitudinal

Explanation:

it is b longitudinal. I just know

Answer:

Your answer is B

Explanation:

Sound waves in air (and any fluid medium) are longitudinal waves because particles of the medium through which the sound is transported vibrate parallel to the direction that the sound wave moves. A vibrating string can create longitudinal waves as depicted in the animation below.

Which activity is an example of differentiated marketing? A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic. B. A retailer promotes commodities such as coffee, sugar, and bread to everyone who shops at the store. C. A local business distributes promotional cards to the community. D. A travel business sends advertisements to its current and past customers. E. An insurance company offers its products to everyone in Kansas.

Answers

Answer: A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic.

Explanation:

Differentiated marketing is a form of marketing that occurs when the advertisement that is done by a particular company appeals to some particular target audiences or segments. Thus is usually done by the company to get ire customers and also enhance the brand awareness.

In this case, the activity that is an example of differentiated marketing will be option A. "An automobile company promotes small family cars and sports utility vehicles to a specific demographic".

you are the accounts receivable clerk for fast and friendly shipping . the friendly shipping the balance of the accounts receivable account is $25,000 for six months you have been trying to collect the amount owned by three companies: ABC company, $450; XYZ company, $500; and nice try company, $350. these accounts are still unpaid. your supervisor asked you to write off these accounts using the direct write off method. what is the balance of accounts receivable after you write off these accounts as uncollective?

Answers

Answer:

Thats a lot of money

Explanation:

can I have some

You are considering an investment of $10,000 in a mutual fund with a 2% front load and an annual expense ratio of 0.5%. You are also considering an investment in a bank CD paying 2% interest per year. Assuming risk is constant across the two investments, if you plan to invest for four years, what annual rate of return must the mutual fund earn for you to be better off in the mutual fund than in the bank CD

Answers

Answer:

r > 3.02%

Explanation:

Mutual fund wealth index after N years = (1+front load)*(1+r-expenses)^N

CD wealth index after N years = (1+rate)N

If investment is 4 years

(1+0.02)*(1+r-0.005)^4 = (1+0.02)^4

0.98*(1+r-0.005)^4 = 1.08243216

(1+r-0.005)^4 = 1.08243216/0.98

(1+r-0.005)^4 = 1.10452261

Taking 4th root both side

(1+r-0.005) = 1.10452261^(1/4)

1 + r - 0.005 = 1.02516472

r = 1.02516472 - 1 + 0.005

r = 0.03016472

r = 3.02%, r > 3.02%

You plan to retire in 30 years and plan to contribute the same amount of money each year to your retirement fund. The fund earns 7% compounded annually. If you would like to withdraw $100,000 each year for 20 years, starting 1 year after the last contribution is made. Approximately how much money should you contribute to your retirement fund each year

Answers

Answer:

$11,215.24

Explanation:

After retirement:

Annual Withdrawal = $100,000

Period = 20 years

Annual Interest Rate = 7%

Amount required at retirement = $100,000 * PVIFA(7%, 20)

Amount required at retirement = $100,000 * (1 - (1/1.07)^20) / 0.07

Amount required at retirement = $100,000 * 10.5940

Amount required at retirement = $1,059,400

Before retirement:

Period = 30 years

Annual Deposit * FVIFA(7%, 30) = $1,059,400

Annual Deposit * (1.07^30 - 1) / 0.07 = $1,059,400

Annual Deposit * 94.46079 = $1,059,400

Annual Deposit = $11,215.24

So, you should contribute $11,215.24 each year into your retirement fund.

Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively, using the weighted-average method. If 4,660 units were completed and transferred to the next department, then what is the total cost assigned to the units completed and transferred out of the Milling Department

Answers

Question Completion:

Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 385,000 676,600 Total cost $ 301,600 $ 400,000 $ 701,600

Answer:

Milling Department

The total cost assigned to the units completed and transferred out is:

= $643,080

Explanation:

a) Data and Calculations:

Milling Department

Cost of production:

                                                              Materials    Conversion    Total Cost

Beginning work in process inventory  $ 10,000      $ 15,000       $ 25,000

Costs added during the period             291,600      385,000        676,600

Total cost                                             $ 301,600  $ 400,000      $ 701,600

Equivalent units of production              5,200           5,000

Cost per equivalent unit                         $58              $80

Cost Assignment:

Units completed and transferred out:

Materials = $270,280 (4,660 * $58)

Conversion  372,800 *4,660 * $80)

Total costs $643,080

Therefore, the costs assigned to ending work in process = $ 58,520 ($701,600 - 643,080)

Bob manages a cafe. He pays $50,000 for labor and $7,000 for space rental every month. He chose the current space and gave up another site which costs $8,000/month. Bob also refused an acquistion proposal of $600,000 raised by a restaurant. The proposal plans to close down the cafe. What is the opportunity cost in this case

Answers

Answer:

$600,000

Explanation:

Opportunity  cost also known as implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

the next best option to Bob is to sell the cafe. If he did, he would have earned $600,000. This is his opportunity cost.

$50,000 constitutes a variable cost while $7000 is a fixed cost.

Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments

If production is zero or if production is a million, Rent payments do not change - it remains the same no matter the level of output.  

Variable costs are costs that vary with production

If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.  

On January 1, 2021, Glanville Company sold goods to Otter Corporation. Otter signed an installment note requiring payment of $19,500 annually for six years. The first payment was made on January 1, 2021. The prevailing rate of interest for this type of note at date of issuance was 10%. Glanville should record sales revenue in January 2021 of: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $117,000 $84,928 None of these answer choices are correct. $93,420

Answers

Answer:

the amount of sales revenue recorded is $86,234

Explanation:

The computation of the amount of sales revenue recorded is shown below:

= Annual payments × PVAD of $1

= $19,500 × 1+(1 - (1.10)^-5) ÷ 0.10

= $86,234

Hence, the amount of sales revenue recorded is $86,234

We simply applied the above formula

Offering 30 points and brainliest

Answers

Answer:

b

Explanation:

Suppose you know that a company's stock currently sells for $57 per share and the required return on the stock is 10.4%. You also know that the total return on the stock is evenly divided between capital gains yield and dividend yield. If it's the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?
What is the dividend per share in Year 4?

Answers

Answer:

$2.82

Explanation:

Calculation for what is the current dividend per share

First step is to calculate the Dividend yield

Dividend yield= 1/2 (.104)

Dividend yield= .052

Now let calculate the current dividend per share

Current dividend per share=(.052*57 per share)/(1+0.052)

Current dividend per share= 2.964/1.052

Current dividend per share=$2.82

Therefore the Current dividend per share will be $2.82

Dobles Corporation has provided the following data from its activity-based costing system: Activity Cost Pools Estimated Overhead Cost Expected Activity Assembly $228,060 18,000 machine hours Processing orders $34,068 1,200 orders Inspection $125,560 1,720 inspection hours The company makes 420 units of product D28K a year, requiring a total of 460 machine hours, 80 orders, and 10 inspection-hours per year. The product's direct materials cost is $48.96 per unit, and its direct labor cost is $25.36 per unit. Use activity-based costing to compute the unit product cost of product D28K.

Answers

Answer:

Dobles Corporation

The unit product cost of product D28K is:

$144.01

Explanation:

a) Data and Calculations:

Activity Cost Pools    Estimated Overhead Cost   Expected Activity

Assembly                     $228,060                            18,000 machine hours

Processing orders         $34,068                              1,200 orders

Inspection                    $125,560                               1,720 inspection hours

Units of D28K produced per year = 420 units

D28K requirements:

Machine hours     460

Orders                    80

Inspections             10

Direct materials cost per unit = $48.96

Direct labor cost per unit = $25.36

Activity rate:

Assembly                     $228,060/18,000 = $12.67 per machine hour

Processing orders         $34,068/1,200 = $28.39 per order

Inspection                    $125,560/1,720 = $73 per inspection-hour

Cost of D28K:

Machine hours     460 * $12.67 =   $5,828

Orders                    80 * $28.39 = $22,712

Inspections             10 * $73 =           $730

Total overhead costs =                $29,270

Overhead cost per unit = $69.69 ($29,270/420)

Unit Cost of D28K:

Direct materials cost per unit = $48.96

Direct labor cost per unit =        $25.36

Overhead cost per unit =          $69,69

Total unit cost =                         $144.01

If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is
a. $2,100,000
b. $2,060,000
c. $2,000,000
d. $1,940,000

Answers

The answer to your question is d.$1,940,000

The amount of cash received from the sale of $2 million bonds issued at 97% of face value is $1.94 million. The issue price is calculated by multiplying the face value by 97%, which is $1.94 million.

Hence, the correct option is (d).

To calculate the amount of cash received from the sale of $2,000,000 of 10% bonds issued at 97, we need to multiply the bond's face value by the percentage of the issue price.

The issue price is given as 97% of the face value. To find the issue price, we calculate:

Issue price = Face value x (97/100)

= $2,000,000 x (97/100)

= $1,940,000

Therefore, the amount of cash received from the sale is d. $1,940,000.

Learn more about bonds here: brainly.com/question/33648670

#SPJ2

MECCS Inc. has net income of $3,492, interest expense of $172, sales of $7,290, addition to retained earnings of $1,596, selling and general expenses of $1,820, and depreciation of $990. What is the amount of dividends paid if the tax rate is 21 percent

Answers

Answer: $1,896‬

Explanation:

The amount of net income that is retained is determined by the amount of dividends paid in the formula:

= Net income - Retained earnings

= 3,492 - 1,596

= $1,896‬

Taxes and expenses would have already been catered for in the Net income.

Summarise the following passage in on more than 60w words and supply an appropriate title:every second,1 hectare of the world's rainforest is destroyed.thats equivalent to two football fields,an area the size of new York city is lost every day.in a year,that adds up to 31 million hectares-more than the land area of poland.this alarming rate of destruction has serious consequences for the environment, scientists estimate, for example, that 137 species of plant,insect or animal become extinct every day due to logging. In British Columbia, where,since become extinct, and the habitats of grizzly bears,wolves and many other creatures are threatened. Logging, however,provides jobs,profits, taxes for the government and cheap products of all kinds for consumers, so the government is reluctant to restrict or control it.

Answers

Answer:

I don't know...

Explanation:

I'm sorry...............

Consider two neighboring island countries called Arcadia and Felicidad. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.

Jeans Corn
Country (Pairs per hour of labor) (Bushels per hour of labor)
Arcadia 8 16
Felicidad 5 20


Initially, suppose Arcadia uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Felicidad uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Arcadia produces 8 million pairs of jeans and 48 million bushels of corn, and Felicidad produces 15 million pairs of jeans and 20 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.


Arcadia's opportunity cost of producing 1 pair of jeans is____of corn, and Felicidad's opportunity cost of producing 1 pair of jeans is____of corn. Therefore,____has a comparative advantage in the production of jeans, and____has a comparative advantage in the production of corn.

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce ___ million pairs per week, and the country that produces corn will produce ____ million bushels per week.

When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased by____million pairs per week, and the total production of corn has increased by____million bushels per week.

Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.
Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked “Increase in Consumption”).
Arcadia Felicidad

Jeans Corn Jeans Corn
(millions of pairs) (millions of bushels) (millions of pairs) (millions of bushels)

Without Trade
Production 8 48 15 20
Consumption 8 48 15 20

With Trade
Production
Trade action
Consumption

Gains from trade
Increase in consumption

Answers

Answer:

Arcadia's opportunity cost of producing 1 pair of jeans is 2 bushels of corn, and Felicidad's opportunity cost of producing 1 pair of jeans is 4 bushels of corn. Therefore, Arcadia has a comparative advantage in the production of jeans, and Felicidad has a comparative advantage in the production of corn.

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce 32 million pairs per week, and the country that produces corn will produce 80 million bushels per week.

When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased by 9 million pairs per week, and the total production of corn has increased by 12 million bushels per week.

Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.

Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked “Increase in Consumption”).

                                         Arcadia               Felicidad

                                    Jeans Corn           Jeans Corn

Without Trade

Production                      8      48                 15      20

Consumption                 8      48                  15      20

With Trade

Production                    32      0                   0        80      

Trade action                15     48                  15       48

Consumption               17     48                  15       32

Gains from trade

Increase in                    9                                        12

consumption

A downside of social media is that:

Answers

Answer:

People tend to talk to other people they don't know, which could cause serious problems

Explanation:

Answer:

That there are big hacker that can steal your info and also that people can know everything about you in just one video or on picture. It just pure scary

Explanation:

Your Welcome (; (:

one could use the investment opportunity curve and the indifference curve to calculate optimal consumption and investment.
True or False?

Answers

I think it’s false !! :)) Lmk if it’s right !?!

Argo, a firm organizing adventure travel, has returns that vary with the economy. Argo predicts that there is a 20% probability of a strong economy, a 50% probability of a normal economy, and a 30% probability of a weak economy. Given a strong economy, Argo expects a 35% return, given a normal economy, Argo expects a 14% return, and given a weak economy, Argo expects to lose 20%. What is the expected return for Argo

Answers

Answer: 8%

Explanation:

The expected return is a weighted average of the returns given the probability of certain states of the economy:

= (Prob. of boom * return if boom) + (Prob. of normal * return if normal) + (Prob. of  weak * return if weak)

= (20% * 35%) + (50% * 14%) + (30% * -20%)

= 0.07 + 0.07 - 0.06

= 8%

Answer:

it is 8% my dear friend

Explanation:

For the backpack buyer, note the importance of each of the five main characteristics under PREFERENCES and consider each in terms of the five steps. Why are CAPACITY and WATERPROOF the most influential preferences in buyer behavior for the Outdoor Enthusiast?

Answers

Answer:

Outdoor enthusiasts love to spend time in nature. One of the ways they do so is by traveling, hiking, cycling, etc. Many times they need to carry equipment that's heavy and are exposed to all manner of weather elements such as fog, rain, heat, etc.

So if the bag cannot contain many items, it's usually a put-off for them. Also, any outdoor person would want their personal items to remain dry regardless of the weather.

This is the reason why for them, both Capacity and Waterproof scores as high as 83% amongst the other factors that influence their demand for a backpack.

Cheers

Outdoor Enthusiasts can consider a large backpack—one that can handle the elements—since they are likely hiking or camping for more than a day.

What are the outdoor enthusiasts ?

The outdoor enthusiast is those who like to travel outside their country and loves recreation. They take part in various activities like sports, music, outdoor adventure sports like Bungy rope, scuba diving and thus take on with themselves a backpack that consists of all stuff that is required for the adventurous destination. Their backpacks include all-weather camping gear and emergency equipment.

Find out more information about the backpack buyer.

brainly.com/question/13763238.

A company issues a callable (at par) five-year, 7% coupon bond with annual coupon payments. The bond can be called at par in one year after release or any time after that on a coupon payment date. On release, it has a price of $110 per $100 of face value. What is the yield to worst of this bond in percentage when it is released

Answers

Answer:

the worse case scenario is that the bond yields -2.73%

Explanation:

the worst case scenario is that the bonds are called one year after they are issued.

you invest $110 today

in one year, you will receive $100 + $7 = $107

your holding period return = ($107 - $110) / $110 = -0.02727 ≈ -2.73%

generally callable bonds are sold at lower prices than regular bonds, so a situation like this is very unlikely since the issue price should probably be lower.

A key feature of business is that it facilitates an exchange of

Answers

An “Exchange Value “

Answer:

type ''value''

Explanation:

i took the test

(a) Purchased $110 of supplies for cash. –$110 $0 (b) Recorded an adjusting entry to record use of $20 of the above supplies. enter a dollar amount enter a dollar amount (c) Made sales of $1,500, all on account. enter a dollar amount enter a dollar amount (d) Received $850 from customers in payment of their accounts. enter a dollar amount enter a dollar amount (e) Purchased equipment for cash, $2,550. enter a dollar amount enter a dollar amount (f) Recorded depreciation of building for period used, $740.

Answers

Question Completion:

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income.

Answer:

Effects of transactions on cash and net income:

(a) Purchased $110 of supplies for cash.

Cash–$110 Net income $0

(b) Recorded an adjusting entry to record use of $20 of the above supplies.

Cash - $0 Net Income -$20

(c) Made sales of $1,500, all on account.

Cash -$0 Net Income +$1,500

(d) Received $850 from customers in payment of their accounts.

Cash +$850 Net Income $0

(e) Purchased equipment for cash, $2,550.

Cash -$2,550 Net Income $0

(f) Recorded depreciation of building for period used, $740.

Cash $0 Net Income -$740

Explanation:

As stated earlier, business transactions that affect earnings do not necessarily affect cash.  This fact is demonstrated in the above examples.  Unless the transaction is for cash and affects a revenue or expense account, it will not affect cash and earnings at the same time.  An example of a transaction that affects both is the sale of goods for cash.  This will increase the cash balance as well as boasting the earnings.  Another example is the cash payment for rent expense.  This will reduce the cash balance as well as reduce the earnings.

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $23,300 and Job 11 $31,500. On March 31, Job 10 is sold to the customer for $36,400 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10.

Answers

Answer and Explanation:

The journal entries are given below:

On Mar-31

Finished Goods $54,800($23,300 + $31,500)  

      To Work in Process $54,800

(Being two completed jobs are recorded)

On Mar-31

Cash $36,400

          To Sales $36,400

(Being the sale of JOb 10 is recorded)

On Mar-31

Cost of goods sold $23,300

          To Finished goods $23,300

(Being the cost of job 10 is recorded)

Answer:The journal entries are given below:

On Mar-31

Finished Goods $54,800($23,300 + $31,500)  

     To Work in Process $54,800

(Being two completed jobs are recorded)

On Mar-31

Cash $36,400

         To Sales $36,400

(Being the sale of JOb 10 is recorded)

On Mar-31

Cost of goods sold $23,300

         To Finished goods $23,300

(Being the cost of job 10 is recorded)

International monetary analysis focuses on Group of answer choices the international trade side of the international economy. the real side of the international economy. the issues of international cooperation between Central Banks. the monetary side of the international economy, such as currency exchange. the international investment side of the international economy.

Answers

Answer:

the monetary side of the international economy, such as currency exchange.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

An exchange rate can be defined as a number used to represent the value of one country's currency in comparison to another.

International monetary analysis focuses on the monetary side of the international economy, such as currency exchange.

The following data about Atlantis Trading Inc. is available. What is Atlantis’s cash flow from operating activities?

Items Amount ($)
Net income
45,000
Increase in stock
5,000
Decrease in accounts receivables
2,000
Increase in salaries payable
10,000


A.
$54,000

B.
$51,000
C.
$53,000
D.
$52,000

Answers

Answer:

The correct option is D. $52,000.

Explanation:

Atlantis’s cash flow from operating activities can be calculated as follows:

Atlantis Trading Inc.

Calculation of Cash Flow from Operating Activities

Items                                                                Amount ($)      

Net income                                                          45,000

Adjustment to reconcile net income

(Increase) decrease in current assets:

Increase in stock                                                 (5,000)

Decrease in accounts receivables                      2,000

Increase (decrease) in current liabilities:

Increase in salaries payable                               10,000  

Cash flow from operating activities               (52,000)  

The above implies that:

Cash flow from operating activities = Net income - Increase in stock + Decrease in accounts receivables + Increase in salaries payable = $45,000 - $5,000 + $2,000 + $10,000 = $52,000

Therefore, the correct option is D. $52,000.

Employees who are paid biweekly will receive two more checks than
employees who are paid semimonthly

True or False

Answers

True Biweekly is 26 Semimonthly is 24

To tolerate a risk is to simply ignore it? true or false

Answers

Answer:

False

Explanation:

if you ignored it it would get worse and if you ignore you might get hurt aswell.

Why do we need incentives for entrepreneurs?

Answers

motivates people to overcome all the hard work and start a news business

Two examples of factors of production

Answers

Answer:

land, labor, entrepreneurship, and capital

Explanation:

A company’s stock currently sells for $87 per share. Last week the firm issued rights to raise new equity. To purchase a new share, a stockholder must remit $20 and three rights. a. What is the ex-rights stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the price of one right? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Answer:

Explanation

a.  

Value = 3($87)= $261  

New value = $261 + 20 =$281  

Ex-rights stock price= $281/(3+1) = $70.25  

b.    

Price of one right=  $87 − 70.25 = $16.75

The ex-rights stock price is  Value = 3($87)= $261

Value at new = $261 + 20 = $281

Price of Ex-rights Stock: $281/(3+1) = $70.25

What is the stock price?

A share price is the price of a single share of a company's salable equity shares. In layman's terms, the stock price is the largest amount of money someone is willing to pay for the stock or the lowest amount for which it can be purchased.

a.

Value = 3($87)= $261

Value at new = $261 + 20 = $281

Price of Ex-rights Stock: $281/(3+1) = $70.25

b.

One right costs $16.75 ($87 x $70.25).

Therefore, The ex-rights stock price is  Value = 3($87)= $261

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