13. You work for a leveraged buyout firm and are evaluating a potential buyout of TargetCo. TargetCo's stock price is $15.1 and it has 8 million shares outstanding. You believe that if you buy the company and replace its management, its value will increase by 63%. You are planning on doing a leveraged buyout of TargetCo, and will offer $17.7 per share for control of the company. Assuming you get 50% control of TargetCo, then the price of the non-tendered shares will be closest to:

Select one:

a. $15.8

b. $16.4

c. $17.7

d. $15.1