On 1 July 2016, Etsy Ltd acquires all 3,600,000 shares in Facemask Ltd. As part of the purchase consideration, the shareholders of Facemask were offered $2.50 cash for every four Facemask Ltd shares, plus four Etsy Ltd shares for every 9 Facemask Ltd shares. At the date of acquisition, the share price of Facemask Ltd and Etsy Ltd were $24 and $13, respectively.

What is the purchase consideration?

a) 22,300,000 b) 23,050,000 c) 23,800,000 d) 21,800,000

		22,300,000
		23,050,000
		23,800,000
		21,800,000