Consider the following premerger information about a bidding firm (Firm B) and a target firm (Firm T). Assume that both firms have no debt outstanding. Firm B Firm T $ 44 $ 16 Shares outstanding 4,800 Price per share 1,200 Firm B has estimated that the value of the synergistic benefits from acquiring Firm T is $8,900. Firm T can be acquired for $18 per share in cash or by exchange of stock wherein B offers one of its shares for every two of T's shares. Are the shareholders of Firm T better off with the cash offer or the stock offer? Share offer is better Cash offer is better At what exchange ratio of B shares to T shares would the shareholders in T be indifferent between the two offers? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) Answer is complete but not entirely correct. Exchange ratio to 0.4215 1