16) Taggart Transcontinental and Phoenix-Durango have entered into a stock swap merger agreement whereby Taggart will pay a 30% premium over Phoenix-Durango's premerger price. If Taggart's premerger price per share was $15 and Phoenix-Durango's was $30, then the exchange ratio that Taggart will offer is closest to:

A) 0.4

B) 1.8

C) 2.0

D) 2.6