Firms X and Y have submitted takeover bids for firm Z. Below are the relevant data for your analysis: X Y N Merged Firm XZ Merged Firm YZ Premerger share $50 $40 $25 price Shares outstanding 1,000,000 1,500,000 1,000,000 Total equity value $50,000,000 $60,000,000 $25,000,000 $85,000,000 $94,000,000 Firm X has offered 570,000 shares in the merged firm XZ to Z's stockholders. Firm Y has offered 610,000 shares in the merged firm YZ to Z's stockholders. What is the dollar value of the better offer