Apisco Inc. has market value of $560 million and 10 million shares outstanding. Selfcut Department Store has market value of $95 million and 5 million shares outstanding. Apisco is contemplating acquiring Selfcut. Apisco's CFO concludes that the combined firm with synergy will be worth $700 million, and Selfcut can be acquired at a price of $112 million.

If the acquisition is by stock, how many shares should be exchanged for all the shares of Selfcut to make the value of the stock offer equivalent to the cash offer of $112 million?

Group of answer choices

2,427,805

1,805,917

2,000,000

1,588,235

1,904,762