Suppose you own 450,000 shares of common stock in a firm with 45 million total shares outstanding. The firm announces a plan to sell an additional 7 million shares through a rights offering. The market value of the stock is $35.00 before the rights offering and the new shares are being offered to existing shareholders at a $2.50 discount. If you exercise your preemptive rights, how many of the new shares can you purchase? 70,000 80,000 65,900 O 60,000