Question 1 (20 marks) Part A (10 marks): The New World Corporation has 1,000,000 shares outstanding at $30/share. If the firm wishes to raise $13.5 million through rights offering at a subscription price of $27/share, calculate the value of a right. Part B (10 marks): To finance the construction of a new plant, Benefield Inc, must raise an additional $10,000,000 of equity capital through rights offering. The firm currently has an EPS of $5.40 and a P/E ratio of 10, with 1,200,000 shares outstanding. If the firm wants its ex-rights price (Px) to be $50, what subscription price must it set on the new shares