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2. How does the merger affect markups and profits? APT 10,400 $20 $50,000 $258,000 8% -5.00 $33.33 $346,632 $88,632 BPT 15,600 $20 $60,000 $372,000 12%

2. How does the merger affect markups and profits?

APT

10,400

$20

$50,000

$258,000

8%

-5.00

$33.33

$346,632

$88,632

BPT

15,600

$20

$60,000

$372,000

12%

-3.33

$33.33

$519,948

$147,948

Merged

26,000

$20

$100,000

$620,000

20%

-2.00

$33.33

$866,580

$246,580

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