weighted average shares

Hello Mr Chris,

Thanks for help, in the following question why in kaplan answers they took the average of the market prices of $1.5 and $1.8 why the value 5 m into 1.8 and 1 m into 1.5 why chosen it like that . I could not understand their way which was:

A $1.35

TERP
5 × 1.8 = 9.0
1 × 1.5 = 1.5
10.5 / 6 = $1.75

Shares ‘000
5,000 × 5/12 × 1.8 / 1.75 2,143
6,000 × 7/12 3,500
5,643
EPS = 7,600 / 5,643 = $1.35

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At 1 January 20X8 Artichoke Co had 5 million $1 equity shares in issue. On 1 June 20X8 it made a 1 for 5
rights issue at a price of $1.50. The market price of the shares on the last day of quotation with rights was
$1.80.
Total earnings for the year ended 31 December 20X8 was $7.6 million.
What was the earnings per share for the year?
A $1.35
B $1.36
C $1.27
D $1.06

Thanks,