XYZ Corporation needs to raise additional capital and is considering a rights issue to raise $5 million. There are currently 1,000,000 shares on issue, trading at $15.00. The company plans to increase the total number of shares on issue to 1,500,000. Calculate the theoretical ex-rights price and the value of a right.

	a.	$12.5, $2.5
	b.	$18.25, $2.85
	c.	$13.33, $1.67
	d.	$15.00, $5.00
	e.	$13.33, $3.33