1A. Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $70. The current price is $75.00 per share and there are 2.5 million shares outstanding. The rights offer would raise a total of $9,375,000.

How many rights are required to get a new share?

Round your answer to the nearest integer.

Answer: 8

1b. Given that 8 rights are needed to get a new share, what is the subscription price (the price for a new share)?Round your answerto 2 decimal places.

1b. please !