The shareholders of Bread Company have voted in favor of a buyout offer from Butter Corporation. Information about each firm is given here:

	Bread			Butter
Price-earnings ratio		12.8			19
Shares outstanding		96,000			220,000
Earnings	$	190,000		$	880,000

Bread's shareholders will receive one share of Butter stock for every three shares they hold in Bread.

a-1.	What will the EPS of Butter be after the merger? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.)
a-2.	What will the PE ratio be if the NPV of the acquisition is zero? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	What must Butter feel is the value of the synergy between these two firms?