b. The market price of the stock of the Bernstein Corporation is $50 per share and there are one million shares outstanding. Suppose that the management of this corporation is considering a rights offering in connection with the issuance of 500,000 new shares. Each current shareholder would receive one right for every two shares owned. The terms of the rights offering are as follows: For two rights and $30 (The Subscription Price), A New Share Can Be Acquired... i. What would the share price be after the rights offering? ii. What is the value of one right? iii. Demonstrate the effect on the economic well-being of the initial shareholders as a result of the rights offering. 1 Pag