Blenheim PLC has a market value of $130 million and 7 million shares outstanding. Howard Department Store has a market value of $42 million and 2 million shares outstanding. Blenheim is contemplating acquiring Howard. Blenheim's CFO concludes that the combined firm with synergy will be worth $190 million, and Howard can be acquired at a premium of $10 million.

a. If Blenheim offers 2.0 million shares of its stock in exchange for the 2 million shares of Howard, what will the stock price of Blenheim be after the acquisition? (Round the final answer to 2 decimal places. Omit $ sign in your response.)

b. What exchange ratio between the two stocks would make the value of a stock offer equivalent to a cash offer of $52 million? (Do not round intermediate calculations. Round the final answer to 4 decimal places.)