Hastings Corporation is interested in acquiring Vandell Corporation. Vandell has 1 million shares outstanding and a target capital structure consisting of 30% debt. Vandell's debt interest rate is 7.7%. Assume that the risk-free rate of interest is 5% and the market risk premium is 8%. Both Vandell and Hastings face a 30% tax rate. Hastings estimates that if it acquires Vandell, interest payments will be $1,500,000 per year for 3 years after which the current target capital structure of 30% debt will be maintained. Interest in the fourth year will be $1.440 million after which interest and the tax shield will grow at 5%. Synergies will cause the free cash flows to be $2.5 million, $2.7 million, $3.3 million, and then $3.77 million in Years 1 through 4, respectively, after which the free cash flows will grow at a 5% rate.

What is the unlevered value of Vandell? Vandell's beta is 1.10. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000, not 1.2. Do not round intermediate calculations. Round your answer to two decimal places. $ fill in the blank

2 What is the value of its tax shields? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000, not 1.2. Do not round intermediate calculations. Round your answer to two decimal places. $ fill in the blank

3 What is the per share value of Vandell to Hastings Corporation? Assume Vandell now has $10.06 million in debt. Do not round intermediate calculations. Round your answer to the nearest cent. $ fill in the blank 4 per share