2. A Bidder firm has market value of $22,000,000. A Target firm has market value of $8,800,000. The Bidder estimates that the value of synergy from merging with the Target is $5,312,500. The Bidder is considering offering the Target either 35% stock or $12,000,000 in cash for the acquisition. What is the value of the Target to the Bidder? b. What is the cost of the cash acquisition? What is the cost of the stock acquisition? d. What is the NPV of the cash acquisition? What is the NPV of the stock acquisition? a. c. e