3. BARKER S.A. has issued 400.000 common shares and is going to issue an additional 100.000 shares via subscription rights. Each shareholder will receive a subscription right per share. Mr. A has 40.000 common shares. a) What percentage of a new share can the existing shareholders purchase for every subscription right? b) How many subscription rights are needed in order to purchase a new share? c) How many new share can Mr. A purchase? d) What is the ownership of Mr. A after he has acquired the new shares? e) Have the ownership rights of Mr. A varied after he has exercised the new shares? What would have happened if he had not exercised his subscription rights?