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Remix is being acquired by Golac for 20,000 worth of Golac equity. Golac has 2,700 shares of equity outstanding at a price of 23 a
Remix is being acquired by Golac for 20,000 worth of Golac equity. Golac has 2,700 shares of equity outstanding at a price of 23 a share. Remix has 1,000 shares outstanding with a market value of 15 a share. The incremental value of the acquisition is 2,900. How many new shares of Golac equity will be issued to complete this acquisition?
a)810 shares
b)945.7 shares
c)8,100 shares
d)900 shares.
e)None of the above
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