Very Urgent

$se$ the following information $to$ answer the following four questions:

News Corp. $is$ financing a new investment using a rights issue. The subscription price $is$ $$125$ a share. One new share can $be$ purchased for every $8$ shares held. The company currently has $12$ million shares outstanding priced $at$ $$140$ a share.

What $is$ the number $of$ new shares issued through the rights issue?

Question $7$ options:

$1\mathrm{.}6$ million

$1\mathrm{.}8$ million

$1\mathrm{.}4$ million

$1\mathrm{.}5$ million