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In 2013, ABC Mining announced rights issue to build up more capital. The firm wants to use the rights offering to issue $7 a share

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In 2013, ABC Mining announced rights issue to build up more capital. The firm wants to use the rights offering to issue $7 a share for every five shares held. Before the rights issues there were 10 million shares outstanding and the share price was $10. (Suppose 100% subscription for the rights offering). a. What was the total amount of new money raised ? (example of answer format: $5 million, or $5,000,000 or 5000000) b. What was the value of the right to buy one new share ? (example of answer format $10.00 or 10) c. What was the prospective stock price after the issue (example of answer format: $10.00 or 10)

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