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Holmes, Inc., has offered $386,685 cash for all of the common stock in Watson Corporation. Based on recent market information, Watson is worth $162,270 as

Holmes, Inc., has offered $386,685 cash for all of the common stock in Watson Corporation. Based on recent market information, Watson is worth $162,270 as an independent operation. If the merger makes economic sense for Holmes, what is the minimum estimated value of the synergistic benefits from the merger?

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