b$.$ Calculate the premium percentage received by the Grey stockholders. Round your answer to one decimal place.

$\%$

Assume both that immediate synergistic earnings of $$2$ million per year will occur as a result of the merger and that the $\frac{P}{E}$ ratio of the combined companies is $12\mathrm{.}5.$

d$.$ Rework Part b$.$ Round your answer to one decimal place.