Yogi's Berries is acquiring Frodo's Yogurt (Fro-Yo). Yogi's has a market capitalization (i.e., an equity value) of $100 million and debt worth $25 million. Fro-Yo is an all-equity firm with an EBITDA of $3 million. The Enterprise Value to EBITDA ratio for comparable yogurt companies is 9. On all parts, wherever necessary please round your answer to two decimal places.

(a) First, suppose there are no synergies between the firms. A fair price for Fro-Yo is $ ____ million.

(b) Next, suppose the deal will generate synergies worth $6 million in terms of present value. Yogi's and Fro-Yo strike a deal to split the synergies equally between the two firms. The amount Yogi's pays for Fro-Yo is $ _____million.

(c) The terms of the deal are as in part (b). Yogi's pays for Fro-Yo entirely in cash. The value of the combined firm after the merger is is $ ______million.

(d) The terms of the deal are as in part (b). Yogi's pays for Fro-Yo entirely in stock, and issues new stock to finance the acquisition. Before the acquisition, Yogi's has 10 million shares outstanding, and Fro-Yo has 2 million shares outstanding. How many shares of Yogi's are offered for each share of Fro-Yo ?