GNBD makes a rights issue at a subscription price of $10 a share. One new share can be purchased for every 4 shares held. Before the issue there were 10 million share outstanding, and the share price was $12.

a. What is the total amount of new money raised?

b. What is the expected stock price after the rights are issued?

c. What is the value of a right?

(If you're using Excel for providing your answer, you MUST show all the process of deriving the answers.thank you!)