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Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 18 million shares outstanding, which sell for $35 each. Takeover Target has 9

Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 18 million shares outstanding, which sell for $35 each. Takeover Target has 9 million shares outstanding, which sell for $17 each. If the merger gains are estimated at $36 million, what is the highest price per share that Acquiring should be willing to pay to Takeover Target shareholders?

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