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, Shares outstanding Price per share Firm B Firm T 4,600 1,000 $ 40 $ 14 Firm B has estimated that the value of the synergistic benefits from acquiring Firm Tis $8,800. Firm T can be acquired for $16 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? Cash offer is better Share offer is better At what exchange ratio of shares to 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, eg. 32.1616.) Exchange ratio to 1