Maddy Bloody is the CEO of Bloody Wells Inc., a company that specializes in testing wells for contaminates in the South Island. They have decided to raise equity through a rights offering. The shares are trading ex-rights at a price of $26 and shareholders will require 4 rights and a subscription price of $19 to purchase a new share. How much money will Bloody Well raise from the offering if they have 1,200,000 shares outstanding?