P15-3 Rights [LO4] Red Shoe Co. has concluded that additional equity financing will be needed to expand operations and that the needed funds will be best obtained through a rights offering. It has correctly determined that as a result of the rights offering, the share price will fall from $90 to $63 ($90 is the rights-on price: $63 Is the ex-rights price,also known as the when-issued price). The company is seeking $12 million in additional funds with a per-share subscription price equal to $45. 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 170667 O 308,317 O 186.667 O 184,889