A company requires funds to expand, and decides to issue a rights offering. You have gathered the following information: Number of shares outstanding 11,000,000 Market price per share $28.00 New shares to be issued 1,100,000 Subscription price per share $25.00 Required (round all to 2 decimal places): How many rights are required to buy each share? What should the ex-rights price of a share be? How many shares can you purchase by exercising your rights? How much will the shares cost you? If the share price goes up by 10%, by what % will the price of a right go up? If the share price goes down by 10%, by what % will the price of a right go down