A company has 30,000,000 authorized shares and 20,000,000 that are issued and outstanding. When the common shares (with a par value of $1.00) are trading for $10 in the marketplace, it announces a rights offering where each shareholder will receive one right for each share held, and four rights plus $8.00 will entitle the shareholder to purchase one treasury share. 52. What is the value of one right during the cum-rights period? a) $.40 b) $.50 c) $2.00 d) $2.25 53. If the rights offering is fully subscribed, how many shares will be issued and outstanding? a) 20,000,000 b) 24,000,000 c) 25,000,000 d) 36,000,000