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Mac Co has a market value of $452,000. National Co. has 37,000 shares of stock outstanding at a price per share of $21. National is

Mac Co has a market value of $452,000. National Co. has 37,000 shares of stock outstanding at a price per share of $21. National is acquiring Mac in exchange for 21,500 shares of National stock. The merger is expected to create $4,000 of synergy. What is the acquisition net present value?

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