in september of year 2, west corp. made a dividend distribution of one right for each of its 120,000 shares of outstanding common stock. each right was exercisable for the purchase of 1/100 of a share of west's $50 variable rate preferred stock at an exercise price of $80 per share. on march 20 of year 6, none of the rights had been exercised, and west redeemed them by paying each stockholder $0.10 per right. as a result of this redemption, west's stockholders' equity was reduced by