PPP wants to acquire XYZ and intends to make a cash offer of $27 per share for XYZs 100,000 shares. PPP expects a post-merger gain of $800,000. Recently, XYZ's stock price increased from $20 to $23 per share. However, the CFO of PPP believes that the true stand-alone value of XYZ may be $20 per share, not $23 per share. If the fair stand-alone value of XYZ is indeed $20 per share, will the merger still generate positive NPV for PPP? Select one: a. No, PPP will break even since the merger costs offset the merger gain. b. No, the cost to acquire XYZ will exceed the post-merger gain of $800,000. c. Yes, PPP will still make a gain but XYZ will capture more of the economic gain than PPP. d. Yes, PPP will still make a gain and share the post-merger gain with XYZ equally.