Bulldog Acquirers has offered to buy the Gatorade Company for $20.80 per share, and will pay cash. Bulldog's stock traded for $32 per share before the announcement of the merger agreement was made public, and today trades for $18.90 per share. Gatorade's stock traded for $16.90 per share before the announcement of the merger agreement was made public, and currently trades for $18.60 per share. The companies announced that they believe the merger will be completed exactly six months from today. Bulldog pays a dividend of 50 cents per share every quarter, and expects to continue paying that dividend. The merger premium Gatorade shareholders are getting for their stock is %. (Enter 12.3% as 12.3) Answer: