Help, please!

Q1 (20 marks) FTX Co. wants to raise $4 million via a rights offering. The company currently has 6 million shares of common stock outstanding that sell for $54 per share. Its underwriter has set a subscription price of $30 per share and will charge the company a 10 percent spread. a) What is the value of one right? (10 marks) b) Assume that you currently own 9,900 shares of stock in the company and decide not to participate in the rights offering. How much can you get for selling all of your rights? (2 marks) c). Explain why there is a tendency for IPOs to be underpriced (8 marks)