ABC plc. is proposing a rights offering. Currently there are 400,000 shares outstanding at 180 each. There will be 70,000 new shares offered at 150 each. Required: (i) What is the new market value of the company? (ii) How many rights are associated with one of the new shares? (iii) What is the ex-rights price? (iv) What is the value of a right? (v) Ignoring regulations, why might a company have a rights offering rather than a general cash offer?