Veicro Saddles is contemplating the acquisition of Skiers' Airbags Incorporated. The values of the two companies as separate entities are $48 million and $24 million, respectively. Veicro Saddles estimates thot by combining the two companies, it will reduce marketing. and administrative costs by $640.000 per year in perpetuity. Velero Saddles is willing to pay $31 million cash for Skiers: The opportunity cost of capital is 8%. a. What is the gain from the merger? Note: Enter your answer in millions rounded to 2 decimal places. b. What is the cost of the cash offer? Note: Enter your answer in millions. c. What is the NPV of the acquisition under the cash offer? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places