Would like some help to solve this question in corporate finance! please provide a detailed answer

Zanders Inc. is issuing new shares in a rights offer to raise $10 million for a new project. The subscription price for each new share is $10. The company has outstanding common shares of two million and share price of $25. lfthe company's investment dealer charges a 5% spread on the rights offer, what is the percentage otation cost on the net proceeds? (Round your answer to two decimal places.) Select one: C a. 5.26% (i b. 6.00% (f, c. 6.38% C d. 7.32% C e. 7.68%