Target Ltd has 2 million shares priced at $1.20 each. Raider Ltd plans to acquire 80% of shares in Target Ltd. The change in net operating cash flows expected from the takeover is $300,000 p.a. The cost of capital for Target's assets is 12% and 15% for Raiders assets. What is the maximum price per share, Raider should offer Target in order to take it over given the aforementioned information? Group of answer choices $2.80 $2.45 $2.20