P.T. The bidder is currently analyzing the acquisition of P.T. Target. It is assumed that the two companies are unlevered companies. P.T. bidder considers that the acquisition carried out will increase the total net cash flow by Rp11 billion per year. The present value of the P.T. target is IDR 450 billion and P.T. The bidder is 620 billion. Suppose that the appropriate discount rate for calculating the present value of the incremental cash flows is 12%. P.T. The bidder is considering deciding whether to offer a 40% stake to P.T. Target or pay cash to shareholders of P.T. The target is IDR 480 billion. Requested: I a. What is the premium or acquisition cost for each alternative offer? b. What is the NPV of the acquisition for each alternative? c. Which alternative is more profitable for P.T. Bidder? Why