Firm X has 17,500 shares of stock outstanding at a price per share of $37.40. Firm Y has 25,000 shares outstanding at a price per share of $41.50. Firm Y believes it can create $12,800 of synergy if it acquires Firm X in an exchange of stock. What is the value of the combined firm following the merger? Assume both firms are all-equity financed. Multiple Choice $1,704,800 $1,597,500 $1,753,300 $1,692,000 $1,679,200