Answer the following questions: a) Corporations go public when they raise equity finance by selling shares to the public through a process called an Initial Public Offering (IPO). List IPO's benefits and costs. (7 marks) Company Delta needs to raise money. Delta has 100 shares outstanding, and its current share price is $50. The company would like to raise money using a 5 for 20 rights offer. The price of the rights offer is $45 per share. Answer items b, c and d using this information. b) If we assume 100% subscription, what is the total number of shares after the rights issue? (3 marks) c) If we assume 100% subscription, what is the total value of equity after the rights issue? (3 marks) d) What is the expected share price after the rights issue? Compare it with the current share price. What is the value of the right to purchase one share? (7 marks)