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Comany X has offered $536,449,920 cash for all of the common stock in Company W, which is worth $443,520,000 as an independent operation. If the

Comany X has offered $536,449,920 cash for all of the common stock in Company W, which is worth $443,520,000 as an independent operation. If the merger makes economic sense for Comany X , what is the minimum estimated value of the synergistic benefits from the merger?

A. $15, 399,920

B. $92,929,920

C. $98,992,125

D. $38,000,000

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