You own a small networking startup. You have just received an offer to buy your firm from a$$ large, publicly traded$$ firm, JCH Systems. Under the terms of the$$ offer, you will receive $1$ million shares of JCH$.$ JCH stock currently trades for $$25\mathrm{.}26$ per share. You can sell the shares of JCH that you will receive in the market at any time. But as part of the$$ offer, JCH also agrees that at the end of one$$ year, it will buy the shares back from you for $$25\mathrm{.}26$ per share if you desire. Suppose the current$$ one$-$year risk$-$free rate is $6\mathrm{.}49\%,$ the volatility of JCH stock is $30\mathrm{.}9\%,$ and JCH does not pay dividends.$$ Round all intermediate values to five decimal places as needed.

a$.$ Is this offer worth more than $$25\mathrm{.}26$million$?$ Explain.

b$.$ What is the value of the$$ offer?