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Cavalier Enterprises has agreed to be acquired by The Fox Hunt for some of The Fox Hunt stock. The Fox Hunt currently has 3,300 shares

Cavalier Enterprises has agreed to be acquired by The Fox Hunt for some of The Fox Hunt stock. The Fox Hunt currently has 3,300 shares of stock outstanding at a price of $32 a share. Cavalier Enterprises has 2,400 shares outstanding at a price of $26 a share and no debt. The synergy of the acquisition is $2,800. What is the maximum offer price The Fox Hunt should pay for Cavalier Enterprises?

$2,800

$59,600

$62,400

$65,200

$105,600

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