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
Shares outstanding		4,800			1,800
Price per share	$	47		$	20

Firm B has estimated that the value of the synergistic benefits from acquiring Firm T is $9,100. Firm T can be acquired for $22 per share in cash or by exchange of stock where in B offers one of its share for every two of T's share.

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 final answer to 4 decimal places. (e.g., 32.1616))