If a shareholder does not exercise her non-renounceable rights (to purchase additional shares at the specified subscription price), her wealth is expected to Group of answer choices(a) be unaffected by the rights issue because the dilution effect from the firm selling shares at a below-market price will exactly offset the shareholder benefit of being able to purchase shares at a discount. (b) increase due to the exactly offsetting decrease in the wealth of other shareholders (transfer of wealth). (c) decrease due to the share value is diluted as new shares are issued at a below-market price. (d) decrease due to the inability to exploit creditors. (e) be unaffected because share value will decline to the subscription price of the rights offering on the ex-rights date.