Question $9(1$ point$)$

Firm wants to takeover Firm T$,$ but management of Firm T doesn't want to be acquired.

Firm T currently has $1,000$ shares outstanding.

Firm T is using Poison Pill tactics: If any shareholders reach $20\%$ ownership, then any other shareholders with $1$ share stock have rights to buy an additional share at its $50\%$ market value.

Assume current stock pricye $=$$$\frac{20}{?}$ share, what is the share price after poison pill tactic?

$$ $$13\mathrm{.}12$

$$18\mathrm{.}75$

$$17\mathrm{.}02$

$$15\mathrm{.}56$