1 REM RTVAL
5 CLEAR 1000
10 CLS:PRINT TAB(10); "VALUE OF A RIGHT":PRINT
20 PRINT"THE PRIVILEGE OF A STOCKHOLDER TO SUBSCRIBE AT A STATED PRICE
25 PRINT"TO NEW ISSUES OF COMMON STOCKS IN PROPORTION TO HIS PRESENT
30 PRINT"HOLDINGS IS A RIGHT OR STOCK RIGHT. THIS PRIVILEGE IS 
35 PRINT"GENERALLY OFFERED FOR A VERY LIMITED PERIOD. DURING THIS
40 PRINT"PERIOD MAY EXERCISE HIS OFFER OR HE MAY SELL THE RIGHT TO
45 PRINT"ANOTHER INVESTOR. WHEN THE RIGHTS OFFERING IS ANNOUNCED THE
50 PRINT"BOARD OF DIRECTORS ESTABLISHES A CUTOFF DATE. ANYONE WHO
55 PRINT"PURCHASES THE STOCK BEFORE THAT DATE RECEIVES RIGHTS FOR THE
60 PRINT"NEW ISSUE. THE STOCK IS THEN SAID TO SELL RIGHTS-ON. AFTER
65 PRINT"THE CUTOFF DATE NEW PURCHASERS OF THE STOCK DO NOT GET THE 
70 PRINT"RIGHT AND THE STOCK IS TRADED EX-RIGHTS.
75 PRINT:GOSUB 10100: CLS
80 PRINT"GIVEN THE MARKET VALUE OF 1 SHARE OF STOCK SELLING RIGHTS-ON,
85 PRINT"THE SUBSCRIPTION PRICE PER SHARE, AND THE NUMBER OF RIGHTS 
90 PRINT"REQUIRED TO PURCHASE ONE SHARE OF STOCK THIS PROGRAM WILL
95 PRINT"COMPUTE THE MARKET VALUE OF 1 RIGHT WHEN THE STOCK IS SELLING
100 PRINT"RIGHTS-ON, THE THEORETICAL VALUE OF ONE SHARE OF STOCK WHEN 
105 PRINT"IT GOES EX-RIGHTS, AND THE THEORETICAL VALUE OF 1 RIGHT
110 PRINT"WITH THE STOCK SELLING EX-RIGHTS.
120 PRINT:INPUT"PRESS ENTER TO BEGIN";Z9$
200 CLS
210 INPUT"ENTER MARKET VALUE OF 1 SHARE RIGHTS-ON";P0
220 INPUT"ENTER SUBSCRIPTION PRICE PER SHARE     ";S
230 INPUT"ENTER # RIGHTS NEEDED TO BUY 1 SHARE   ";N
300 R0=(P0-S)/(N+1):REM MARKET VALUE OF 1 RIGHT - RIGHTS-ON
310 PX=(P0*N+S)/(N+1):REM VALUE 1 SHARE EX-RIGHTS
320 RX=(PX - S)/N:REM VALUE 1 RIGHT - EX RIGHTS
400 REM PRINT
410 PRINT:PRINT
420 PRINT"MARKET VALUE OF 1 RIGHT - RIGHTS-ON       ";R0
430 PRINT"THEORETICAL VALUE OF 1 SHARE EX-RIGHTS    ";PX
440 PRINT"THEORETICAL VALUE OF 1 RIGHT EX-RIGHTS    ";RX
450 PRINT
460 INPUT"PRESS ENTER FOR MORE COMPUTATION";Z9$
465 IF Z9$ = "-1" THEN END
470 GOTO 200
10000 PRINT"INPUT ERROR! TRY AGAIN!":FOR Z=1TO300:NEXT:RETURN
10100 INPUT"PRESS ENTER TO CONTINUE";Z9$:RETURN
