Companies A and B plan to merge, and expected the following syngergies, net of costs, to begin to begin in the first post-merger year. $600 million revenue increase, expected to grow thereafter at the rate of inflation. $500 million in fixed overhead cost reductions $60 million cost reduction from eliminating overlapping technologies Assume the following: Cost reductions will increase by 40% in after the first year, and then decline at a rate of 6% in perpetuity Revenue synergies after the first year will grow at 3% in perpetuity. The expected post merger variable cost is 60% of revenues. The merged firm will need to maintain net working capital equal to 2% of revenues. The merged firm will need to spend $400 million for integration costs (tax deductible) in the first post merger year Post-merger cost of capital of 8%, tax rate of 40%, and expected annual inflation of 3%. What is the total net present value of all synergies?