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Firm Peanut Butter is planning on merging with Firm Jelly. Firm Peanut Butter will pay Firm Jelly's stockholders the current value of their stock in

Firm Peanut Butter is planning on merging with Firm Jelly. Firm Peanut Butter will pay Firm Jelly's stockholders the current value of their stock in shares of Firm Peanut Butter. Firm Peanut Butter currently has 2,300 shares of stock outstanding at a market price of $20 a share. Firm Jelly has 1,500 shares outstanding at a price of $18 a share. No synergies are expected (SHOCKER!!). What is the value per share of the merged PB&J firm?

A.$19.00

B.$19.18

C.$19.44

D.$20.00

E.$20.33

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