Airline Manufacturers plc has faced major cash flow disruptions since March 2020. In response, the company has announced a rights issue. The current market price of a share is 200 pence. In this context, the rights issue ratio is 10 for 3. This ratio means that for every three shares an investor holds, they can purchase ten new shares at a discounted price of 80%. Required: 

(a) Calculate the theoretical ex-rights price. 

(b) Calculate how much an investor with 600 shares pays for the full entitlement of new shares. What is the impact on net wealth? 

(c) Calculate the total value of an investor's entitlements in nil paid form and determine the resulting impact on their wealth after selling