Velcro Saddles is contemplating the acquisition of Skiers$$ Airbags Incorporated The values of the two companies as separate entities are $$46$ million and $$23$ million, respectively. Velcro Saddles estimates that by combining the two companies, it will reduce marketing and administrative costs by $$630,000$ per year in perpetuity. Velcro Saddles considers offering Skiers$$ shareholders a $50\%$ holding in Velcro Saddles. The opportunity cost of capital is $7\%.$

What is the value of the stock in the merged company held by the original Skiers$$ shareholders?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

What is the cost of the stock alternative?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

What is the merger$$s NPV under the stock offer?

Note: A negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.