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DEF stockholders are paid the current market value of their firm in the form of ABC stock. Both firms are 100% equity-financed. The total earnings

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DEF stockholders are paid the current market value of their firm in the form of ABC stock. Both firms are 100% equity-financed. The total earnings of the combined firm are $77,000 What is the number of shares in the new firm? A) 30,400 B) 29,000 C) 32,500 D) 32,000 E) 28,600

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