2a. Big baby company provides a rights offering with the following details. Items Amount Number of rights for one new share 5 Subscription price $46 per share Stock price (closing price before ex-rights day) $76 per share Stock price (opening price on ex-rights day) $68 per share Selling price for rights (on ex-rights day) $2 each i) Calculate the correct ex-rights price and the value of a right. ii) Illustrate how you could exploit profit from the mispricing and calculate the profit