The market price of the stock of the AA Corporation is RM$1\mathrm{.}50$ per share and there are $1$ million shares outstanding. Suppose that the management of this corporation is considering a rights offering in connection with the issuance of $250,000$ new shares at an exercise price of RM$1.$ Each current shareholders would receive one for every four shares owned.

i$)$Calculate the share price after the rights offering

ii$)$Calculate the value of ONE $(1)$ right.

iii$)$Demonstrate the effect on the economic well being of the initial shareholders as a result of the rights offering.