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Firm A is analyzing the possible acquisition of Firm T. Firm A currently has 5,030 shares outstanding at a market price of $54.02 per share.

Firm A is analyzing the possible acquisition of Firm T. Firm A currently has 5,030 shares outstanding at a market price of $54.02 per share. Firm T has 3,497 shares outstanding at a market price of $43.52 per share. If Firm A has estimated that the present value of the synergistic benefits arising from the acquisition of Firm T is $7,585, what would be the NPV of the merger if Firm A offered 3 of its shares in exchange for 8.5 of Firm T's shares

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