The Computer Co. wants to raise $4 million through a rights offering. Currently, the company has 1.5 million shares outstanding and plans on issuing one right for each share. The current market price is $50 and the subscription price is $40. What do shareholders have to submit to receive one new share of stock under this rights offering?
A)15 rights + $40
B)15 rights + $50
C)18.75 rights + $40
D)18.75 rights + $50