Bidding firm (Firm B) has 5380 shares outstanding that are currently selling at $47 per share. Target firm (Firm T) has 1530 shares outstanding that…

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Bidding firm (Firm B) has 5380 shares outstanding that are currently selling at $47 per share. Target firm (Firm T) has 1530 shares outstanding that are currently selling at $15 per share. Assume that both firms have no debt outstanding. Firm B has estimated that the value of the synergistic benefits from acquiring Firm T is $8513.

Suppose Firm T is agreeable to a merger by an exchange of stock. If B offers three of its shares for every five of T’s shares, what will be the price per share of the merged firm? (Round answer to 2 decimal places. Do not round intermediate calculations)