Assume that a company announced a rights offer. Which of the following statements correctly describes a(the) characteristic(s) associated with the rights offer made by this company?

X will always be less than the actual observed ex-rights price per share The value of R typically incorporates the value of the option associated with the right X is only related to the subscription price and to the value of the right Group of answer choices

a.Statement II is correct

b.None of statements I, II, or III is correct

c.Statement III is correct

d.Statement I is correct

e.More than one of statements I, II, and III is correct