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ABC and XYZ have entered into a stock swap merger agreement whereby ABC will pay a 30% premium over XYZ's pre-merger price. If ABC's pre-merger

ABC and XYZ have entered into a stock swap merger agreement whereby ABC will pay a 30% premium over XYZ's pre-merger price. If ABC's pre-merger price per share was $15 and XYZ's was $30, then the exchange ratio that ABC will offer is closest to:

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