please explain its om questions

Q8 to Q16 are based on the following information: You are leading a team on a M&A deal. Suddenly your analyst has disappeared and you have the following unfinished spreadsheet. The acquirer and the target are assumed to have zero growth. Tax rate is 40%. Now it is up to you to finish this job. Acquirer Target Combined Sales 400 100 500 200 60 260 Operating Expenses 20 Annual cost savings EBIT 200 40 ?1? EBIT(1-t) 120 24 ??? Depreciation 40 30 ??? 30 30 ??? 10 5 ??? Gross Plant & Equipment Change in Working Capital Free Cash Flow to Firm 120 19 ?2? Discount rate 8.00% 9% 8% Firm Value 1500 211.111 73? 400 50 Long term debt 450 Equity value 1100 161.111 74? 13. What is minimum price to offer? QUESTION 14 14. Suppose you decide to share 30% of the synergy to the target shareholders, what is your initial offer? QUESTION 15 15. What is the maximum price you can offer? QUESTION 16 16. If the tax rate drops from 40% to 22% and everyting else stays the same, the synergy from this merger will increase. True False