Plant, Inc., is considering making an offer to purchase Palmer Corp. Plant$$s vice president of finance has collected the following information:

Plant Palmer

Price$-$earnings ratio $15\mathrm{.}611\mathrm{.}2$

Shares outstanding $1,610,000860,000$

Earnings $ $4,685,100$ $ $1,195,400$

Dividends $ $1,061,000$ $ $481,000$

Plant also knows that securities analysts expect the earnings and dividends of Palmer to grow at a constant rate of $5$ percent each year. Plant management believes that the acquisition of Palmer will provide the firm with some economies of scale that will increase this growth rate to $7$ percent per year.

a$.$

What is the value of Palmer to Plant?