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Dana Insurance is acquiring PostBank for $48,000 in cash. PostBank has 2,100 shares outstanding at a market price per share of $16. Dana Insurance has

Dana Insurance is acquiring PostBank for $48,000 in cash. PostBank has 2,100 shares outstanding at a market price per share of $16. Dana Insurance has 3,000 shares outstanding at a market price of $18 a share. Neither firm has any debt. What is the merger premium per share? (Please give your answer in $ with two digits after decimal point.)

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