Frazier, Inc. is considering acquiring the Randall Corporation, in a stock swap, where Frazier will pay a 20% premium over Randall's market price. The data for the two companies are as follows: Randall Corp. Frazier Corp. Total earnings. $1,000,000 $4,000,000 Number of shares of stock outstanding... 400.000 2,000,000 Earnings per share... $2.50 $2.00 Price-earnings ratio (P/E).... 12 15 Market price per share...... $30 $30 How many shares must Frazier issue to buy the Randall Corp. assuming the merger is completed fully via a stock exchange (stock swap)? How many shares must Frazier issue to buy the Randall Corp. assuming the merger is completed fully via a stock exchange (stock swap)? 15,600.000 O 480.000 420.000 520.000