TED TALK Inc. has issued 400.000 common shares and is going to issue an additional 100.000 shares via subscription rights. Each shareholder will receive a subscription right per share. Suppose that Mr. Spam has 40.000 common shares. a) What percentage of a new share can the existing shareholders purchase for every subscription right? b) How many subscription rights are needed in order to purchase a new share? c) How many new shares can Mr. Spam purchase? d) What is the ownership of Mr. Spam after he has acquired the new shares? e) Have the ownership rights of Mr. Spam varied after he has exercised the new shares? What would have happened if he had not exercised his subscription rights?