In 2010, Pandora, Inc., makes a rights issue at a subscription price of $4 a share. One new share can be purchased for every four shares held. Before the issue there were 12 million shares outstanding, and the share price was $6.

a.	What is the total amount of new money raised? (Round your answer to 2 decimal places.)
	Total amount of money raised $_____ million

b.	What is the expected stock price after the rights are issued? (Round your answer to the nearest cent.)
	Expected stock price per share$ _____