Delovely Productions Limited wants to raise $42 million for shows. A rights offering will be used to raise the necessary capital from existing shareholders. Each of the four million shareholders will receive one right. The subscription price is $21 per share, and the market price of the existing shares is currently $28. Calculate the value of a right at the present time. Do not round Intermediate calculations. Round the finanswer to 2 dechmal places.) Right value 3.50