P15-3 Rights [LO4] Red Shoe Co. has concluded that additional equity financing will be needed to expand operations and that the needed funds wil be best obtalned through a rights offering. It has correctly determined that as a result of the rights offering, the share price will fall from $150 to $128 ($150 Is the rights-on price; $128 Is the ex- rights price,also known as the when-Issued price). The company is seeking $15 milllon In additional funds with a per-share subscription price equal to $75. How many shares are there currently, before the offering? (Assume that the Increment to the market value of the equity equals the gross proceeds from the offering.) O 16119 O 462.545 501.091 481,818 O 505,909