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Boat Ltd. has had a few successful years and wants to expand its operations by targeting another market area. It has decided on backward integration

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Boat Ltd. has had a few successful years and wants to expand its operations by targeting another market area. It has decided on backward integration and decided to merge with Wood Ltd. Wood Ltd. has 3,500 shares of \$15 each. Boat Ltd. has decided to offer the value of Wood Ltd. stock in their own shares. Boat Ltd. has 5,400 shares of $20 each. What will be the share value of the merged firm

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