In a recently announced rights offer, Gregory Limited (GRG Ltd) made an offer to its existing shareholders to subscribe for two new ordinary shares at $24 (per share) for every five shares already held. Just before the rights offer announcement, GRG Ltd traded at $28 per ordinary share.

What is the theoretical value of one right? (Note: round your answer to two decimal places)	Answer
What is the value of the right per each ordinary share held by an existing shareholder?(Note: round your answer to two decimal places)	Answer
Shareholder Mr Baz Pickett owns 20 ordinary shares in GRG Ltd before the rights offer announcement. Mr Pickettintends to participate in this offer and will subscribe for all shares he is entitled to. What is the total amount Mr Pickett will need to pay for the new ordinary shares he intends to buy via this rights offer?	Answer