You are evaluating the acquisition of a firm in your industry. You plan to offer each share in the target company 0.8 shares in the merged company (ie, an exchange ratio of 0.8). Assume the following data is available. Compute the value of the combined firm and the new price per share. Then determine the NPV of the stock offer Acquiring Target VA $200 VT NA $75 10 NT 5 PA $120 PT $15 S $14 NSE 4 Value of combined firm $ New price per share S NPV of stock offer S You estimate that a company is worth $519,259 on a stand-alone basis. Additionally, you estimate that the company can generate additional free cash flow of $14,999 per year for the first 9 years. The company also has unused tax benefits with a present value of $99,998. If the cost of equity is 6%, what is the present value of the synergies to the acquisition? Round to the nearest whole dollar. The present value of the synergies to the acquisition is $