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Alpha is planning on merging with Beta. Alpha will pay Beta's shareholders the current value of their equity in shares of Alpha. Alpha currently has

Alpha is planning on merging with Beta. Alpha will pay Beta's shareholders the current value of their equity in shares of Alpha. Alpha currently has 4,200 shares of equity outstanding at a market price of 40 a share. Beta has 2,500 shares outstanding at a price of 18 a share. The after-merger earnings will be 8,800. What will the earnings per share be after the merger?

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