A.

1,

Yellow Corporation stock currently sells for $65 per share. There are 3 million shares currently outstanding. The company announces plans to raise $9 million by offering shares to the public at a price of $65 per share. If the underwriting spread is 6 %, how many shares will the company need to issue in order to be left with net proceeds of $9 million?

2,

Keira Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $70. The current price is $73.75 per share and there are 7.5 million shares outstanding. The rights offer would raise a total of $37,500,000.

How many rights are required to get a new share?

Round your answer to the nearest integer.