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Boxcar Holdings is planning to acquire all the shares in Armadillo Enterprises. The table below provides the relevant data for the two companies. Number of

Boxcar Holdings is planning to acquire all the shares in Armadillo Enterprises. The table below provides the relevant data for the two companies.
Number of Shares Share Price EPS
Boxcar 200 million $24 $2
Armadillo 100 million $40 $5
Boxcar intends to fund the acquisition by issuing new shares. What will Boxcar's share price be after the acquisition, if it pays a 48% premium for Armadillo's shares? (Enter your answer as a number rounded to two decimal places. So, if the share price is $21.34, you should enter 21.34 as your answer.)

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