Your company has earnings per share of $$4.$ It has $1$ million shares outstanding, each of which has a price of $$41.$ You are thinking of

buying TargetCo, which has earnings of $$3$ per share, $1$ million shares outstanding, and a price per share of $$27.$ You will pay for TargetCo by

issuing new shares. There are no expected synergies from the transaction. Suppose you offered an exchange ratio such that, at

current pre$-$announcement share prices for both firms, the offer represents a $16\%$ premium to buy TargetCo. However, the actual premium that

your company will pay for TargetCo when it completes the transaction will not be $16\%,$ because on the announcement the target price will go up

and your price will go down to reflect the fact that you are willing to pay a premium for TargetCo without any synergies. Assume that the takeover

will occur with certainty and all market participants know this on the announcement of the takeover $($ignore time value of money$).$

a$.$ What is the price per share of the combined corporation immediately after the merger is completed?

b$.$ What is the price of your company immediately after the announcement?

c$.$ What is the price of TargetCo immediately after the announcement?

d$.$ What is the actual premium your company will pay?

a$.$ The price per share of the combined corporation immediately after the merger is completed will be $

$($Round to the nearest cent.$)$