Bob's Bait Shop has $1,200$ shares outstanding at a market price per share of $$13.$ Ed's Fish Shop has $2,800$ shares outstanding at a market price of $$29$ a share. Neither firm has any debt. Ed's Fish Shop is acquiring Bob's Bait Shop for $$19,500$ in cash. What is the merger premium per share?

Question $34$ options:

$$1\mathrm{.}13$

$$1\mathrm{.}20$

$$2\mathrm{.}75$

$$2\mathrm{.}88$

$$3\mathrm{.}25$