Step 1 :The plywood initially has four right angles.
Step 2 :When Bailey saws off one of the angles, the number of right angles decreases by one.
Step 3 :The rotation of the plywood does not change the number of right angles.
Step 4 :Therefore, the plywood now has three right angles.
Step 5 :Final Answer: The plywood now has \(\boxed{3}\) right angles.