Page 8.95 Bruce has asked you to analyze the financial aspects of the potential merger . Specifically , he has asked you to answer the following questions : Suppose Hybrid shareholders will agree to a merger price of Sba. 75 per share . Should Birdie proceed with the merger ?" 2. What is the highest price per share that Birdie should be willing to pay for Hybrid ?* Suppose Birdie is unwilling to pay cash for the merger but wil consider a stock exchange . What Exchange ratio would make the merger terms equivalent to the original merger price of $GU. .5 per share ? 4 . What is the highest Exchange ratio Birdie would be willing to pay and still undertake the merger ?"