please help me answer all parts!

5. Draco plc is a gaming cafe that wants to expand its operation into other countries. During a meeting concerning the expansion, the directors decided to make a one-for- five rights issue at a discount of 40% on the current market value. The most recent income statement of the business is as follows: Income statement for the year ended 31 December 2020 $(million) Sales revenue 1,180 Operating profit 75 Interest charges (19) Profit before taxation 58 Taxation (16) Profit for the year 42 The business paid a dividend of 17 million in 2020. The equity of the business as of 31 December 2020 is as follows: $(million) $0.50 ordinary shares 120 Share premium account 80 Retained profit 560 760 Draco plc shares are being traded at a price earnings ratio of 24 times. An investor owning 1,000 ordinary shares in the business, has recently learned about the rights issue but is not sure whether to take up the rights issue, sell the rights or allow the rights to lapse. 511045-E1 Turn Over BUSI 1045-E1 Required: a. Determine the theoretical ex-rights price of an ordinary share in Draco pic. [7 marks) b. Determine the price at which the rights in Draco plc are likely to be traded. [3 marks) c. Evaluate each of the options available to the investor with 1000 ordinary shares. [9 marks) d. An efficient capital market is one from which all specific risk has been eliminated. Critically comment on the statement above