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Golden s is merging with Rosa s . Golden s has debt with a face value of $ 8 0 and Rosa s has debt

Goldens is merging with Rosas. Goldens has debt with a face value of $80 and Rosas has debt with a face value of $50. The premerger values of the firms given two economic states with equal probabilities of occurrence are as follows:
Premerger Values: Stage 1 Stage 2 Market Value
Goldens
Assets $ 130 $ 50 $ 90
Debt 805065
Equity 50025
Rosas
Assets $ 30 $ 90 $ 60
Debt 305040
Equity 04020
If the merger provides no synergy, and if Rosas stockholders receive stock in the combined firm in an amount equal to the standalone value of Rosas, what will be the combined gain or loss to the bondholders of these two firms?
Multiple Choice
$5
$25
$0
$5
$10

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