Penn Corporation is analyzing the possible acquisition of Teller Company. Both firms have no debt. Penn believes the acquisition will increase its total aftertax annual cash flows by $$2$ million indefinitely. The current market value of Teller is $$45$ million, and that of Penn is $$91$ million. The appropriate discount rate for the incremental cash flows is $10$ percent. Penn is trying to decide whether it should offer $40$ percent of its stock or $$61$ million in cash to Teller's shareholders.

a$.$ What is the cost of each alternative? $($Enter your answers in dollars, not millions of dollars, e$.$g$.,1,234,567.$

b$.$ What is the NPV of each alternative? $($Enter your answers in dollars, not millions of dollars, e$.$g$.,1,234,567.$

$\backslash$table$[[$a$.$ Cash cost,$],[$a$.$ Equity cost,$],[$b$.$ NPV of cash offer,$],[$b$.$ NPV of stock offer,$]]$