12. ABC Corporation is considering the acquisition of JLK Corporation. ABC has 760,000,000 shares of stock, with earnings per share of $6.70 and a market price per share of $78. JLK has 350,000,000 shares outstanding with earnings per share of $4.56 and a market price of $62. The merger is expected to increase the net income of the combined companies by $615,000,000 (in synergistic benefits). What is the maximum exchange ratio ABC can offer and what is the minimum exchange ratio JKL could accept