Question 1 (of 3 1. 3000 points value: 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 $60 to $48 ($60 is the rights-on price; $48 is the ex-rights price,also known as the when-issued price). The company is seeking $18 million in additional funds with a per-share subscription price equal to $30. 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 900,000 O 543,000 O 936,000 O 864,000 O 945,000