1.TNT Corporation is considering the acquisition of BRM Corporation.TNT has 220,000 shares of stock, with earnings per share of $2.50 and a market price per share of $30.BRM has 265,000 shares outstanding with earnings per share of $1.40 and a market price of $10.The merger is expected to increase net income of the combined companies by $257,000 (in synergistic benefits).What is the maximum exchange ratio TNT can offer and what is the minimum exchange ratio BRM could accept?