You are given the following facts: World Enterprises Wheelrim& Axle (B) Merged Company (AB) (A) EPS $2.4 3.20 Price per share $48 ? P/E 20 12 number of shares 120,000 240,000 Total Earnings $288,000 $720,000 Total market value $5,760,000 $8,640,000 There are no gains from this merger. In exchange for Wheelrim and Axle shares, World Enterprises issues just enough of its own shares to ensure the $3.20 earnings per share objective. b) How many shares of World Enterprises are exchanged for each share of Wheelrim and Axle? (3 points)