The Jeter Corporation is considering acquiring the A$-$Rod Corporation. The data for the two companies are as follows: A$-$Rod Corporation Jeter Corporation Total earnings $ $756,000$ $ $3,400,000$ Number of shares of stock outstanding $270,0001,700,000$ Earnings per share $ $2\mathrm{.}80$ $ $2\mathrm{.}00$ Price$-$earnings ratio $($P$/$E$)1014$ Market price per share $ $28$ $ $28$ The Jeter Corporation is going to give A$-$Rod Corporation a $50$ percent premium over A$-$Rod$$s current market value. What price will it pay?