Pinder Co wants to acquire Pioneer Co because it believes that there would be synergistic benefits of $500 million. Pinder Co offers the shareholders of Pioneer Co 5 of its own shares for 3 of Pioneers shares. Pinder Cos shares are currently trading for $15 and Pioneer Cos shares are trading for $20. Pinder Co has 100 million shares outstanding and Pioneer Co has 50 million shares outstanding. What would be the value of the combined company?

Group of answer choices

a) $3,500 million

b) $3,000 million

c) None of the other answers are correct.

d) $2,000 million

e) $2,500 million