Apple Inc, is analyzing the possible acquisition of Delta Co. Apple's market value is $2,800,000 and its market price per share is $40. Delta's market value is $1,030,000. Apple estimates the incremental value after purchasing Delta is $270,000. a. If Apple makes a cash offer with a total purchase price of $1,230,000, what is the NPV of the acquisition? What will the share price of Apple be after the announcement of the acquisition? What is the combined firm value after the completion of the acquisition? b. Suppose Apple would like to make a stock offer that has the same NPV as the cash offer in part a. How many shares of Apple should be offered to Delta shareholders? What is the fraction of the combined firm that will be held by Delta shareholders after the completion of the acquisition? What is the combined firm value