Skyway Airlines has announced a rights offering for its shareholders. Harold Post owns 1,600 shares of Skyway Airlines stock. Five rights plus $56 cash are needed to buy one of the new shares. The stock is currently selling for $70 rights-on. a. What is the value of a right? (Round the final answer to 2 decimal places.) Value per right $ b-1. How many of the new shares could Harold buy if he exercised all his rights? Number of shares b-2. How much cash would this require? Cash required $