A company's profit after tax for the year 31st December 2018 was RO 600,000. The comparative figure for the year 31st December 2017 was RO 400,000. The company's issued share capital at 1st January 2016 consisted of 200,000 ordinary shares. No shares were issued during the year 2017 but a 1 for 4 rights issue was made on 1st July 2018 at RO 0.800 per share and this was fully subscribed. The market value of the company's shares just before the rights issue was RO 1.400 per share. Calculate the theoretical Ex-Rights price.

a- OMR 3.8

b-OMR 1.28

c-OMR 3.60

d-OMR 2.80