The target firm's debt The target firm's equity The target firm's total corporate value (debt and equity) Consider the following scenario: Sto Hard Holdings Co. (SHH) is considering an acquisition of Mammoth Pictures Inc., and estimates that acquiring Mammoth will result in incremental after-tax net cash flows in years 13 of $5 million, $7.5 million, and $9 million, respectively. After the first three years, the incremental cash flows contributed by the Mammoth acquisition are expected to grow at a constant rate of 6% per year. SHH's current beta is 0.80, but its post-merger beta is expected to be 1.04. The risk-free rate is 3%, and the market risk premium is 5.10%. Mammoth Pictures Inc. has 5 million shares of common stock outstanding. What is the largest tender offer Sto Hard Holdings Co. (SHH) should make on each of Mammoth Pictures Inc.'s shares? $82.72 $55.14 $82.71 $68.93