XYZ co has announced a rights offer. The company has announced that it will take four rights to buy a new share in the offering at a subscription price of $40.At the close of business the day before the ex rights day, the company's stock sells for $80 per share. The next morning it is noticed that the stock sells for $72 per share and the rights sell for $6 each. Are the stocks and the rights correctly priced on the ex rights day? If not, then can you describe a transaction in which we could use these prices to have a scenario with immediate profit.