Rights per Share. Mason Corporation intends to raise $1.5 million in a rights offering. At present, there are 240,000 shares outstanding. A subscription price of $25 a share is assigned....

Rights per Share. Mason Corporation intends to raise $1.5 million in a rights offering. At present, there are 240,000 shares outstanding. A subscription price of $25 a share is assigned.

                (a) How many shares must be sold? (b) How many rights are needed to purchase one share of stock?