Pinder Ltd is secretly considering a merger with Value Co. Pinder Ltds shares are currently trading at $15 and Value Cos shares are currently trading at $4. Pinder Ltd has 5 million shares outstanding and Value Co has 3 million shares outstanding. Pinder Ltd expects the synergies from the merger to be $4 million. If Pinder Ltd offers 1 of its own shares for 3 shares of Value Co, what is the NPV to Pinder Ltd if the offer is accepted? Round to the nearest two digits.

Group of answer choices

A) $0.92 million

B) $1.01 million

C) $0.74 million

D) None of the other answers are correct.

E) $0.83 million