13. Able Corporation is considering the acquisition of Target Corporation. Target Corporation has 1,020,000 shares of stock, with earnings per share of $4.50 and a market price per share of $80. Able Corporation has 1,565,000 shares outstanding with earnings per share of $6.00 and a market price of $55. The merger is expected to increase net income of the combined companies by $2,600,000 (in synergistic benefits). What is the maximum exchange ratio Able Corporation can offer and what is the minimum exchange ratio Target Corporation can accept?