target inc. currently has 2 million shares outstanding. Acquirer inc. is considering an acquisition of target inc. at an offer price of $32 per share. target inc has the following dilutive securities

in the money options

no of options=250,000

exercise price=$20/share

convertible debentures

face value=$1000

book value=15,000,000 dilutive securities are conver

conversion ratio,cv=40(convertible into 40 shares of common stock)

if all the dilutive securities are converted, how many shares will the target have and what will be the equity value of target's shares at the offer price(adjusted target equity value using the if converted method)