Honeywell and Ingram are all-equity firms. Honeywell has 23,000 shares outstanding at a market price of $32.60 a share. Ingram has 33,000 shares outstanding at a price of $55 a share. Ingram is acquiring Honeywell for $815,000 in cash. The synergy of the acquisition is $92,000. What is the value of Honeywell to Ingram?

$841,800 $834,200 $820,600 $811,400 $800,200