Marseille Manufacturing (MM) is considering raising money through a rights offering. MM currently has 10 million shares outstanding selling for €20 per share. Current shareholders will receive one...

Marseille Manufacturing (MM) is considering raising money through a rights offering. MM currently has 10 million shares outstanding selling for €20 per share.  Current shareholders will receive one right per share.  Five rights are required to buy one share for €15.  Will the rights be exercised?  How much money will MM raise if all rights are exercised?  What is the intrinsic value of a right (expected selling price for a single right)?