1) Aardvark Industries is planning a rights offering to raise $200 million in new equity. Their stock price is currently $30 per share and they have 60 million shares outstanding. Aardvark has settled on a price of $20 per share for the rights offering. a) How many rights per share are needed to buy one new share of stock? b) What is the value of one right? c) What would you expect the stock price to do at the close of business on the ex- rights day