In January 2020,A Co. announced plans to acquire T Co.After a careful valuation process, the directors of A Co. have projected that the present value of the takeover synergies will be US$1.52 million.

In addition, the following information is available.

• A Co. and T Co.price per share are US$25 and US$30, respectively.
• T Co. has 1.5 million shares outstanding.

1. What is the maximumtender offer,A Co. should be willing to make for T Co.?Maximum tender offer will beUS$ ______million.
2. What is the maximumpremium (as a fraction of MCT),A Co. should be willing to offer for T Co.?Maximum premium (as a fraction of MCT) will be______%.
3. What is the maximumcash offer per T Co share,A Co. should be willing to make for T Co.?Maximum cash offer per T Co shares will beUS$______.
4. What is the maximumexchange ratio(N*/NT),A Co. could offer in a stock swap to T Co.?Maximumexchange ratiowill be ______.