1. Vanguard Technologies has just announced a rights offering. The subscription price is $18.00; and 5 rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $30 rights on. a. What would be the value of one right? (3 marks) b. When the stock goes ex-rights what would the new stock price be? (2 marks) c. Glenn Schultz has $28,000 to invest. 1. How many shares could be buy ex-rights? (2 marks) ii. How many rights could he buy ex rights? (2 marks) d. If the ex-rights price increases to $35 how much money will he make if he buys shares/rights (use your answer to part c)? (2 marks) e. If the ex-rights price falls to 22 how much money will he lose if he buys shares/rights?( use your answer to part c) (2 marks) f. Why would Vanguard set the subscription price so far below the market price? (2 marks)