Principal inc is acquiring secondary companies for 29000 in, Financial Management

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Principal inc is acquiring secondary companies for 29000 in

Principal, Inc. is acquiring Secondary Companies for $29,000 in cash. Principal has 2,500 shares of stock outstanding at a market price of $32 a share. Secondary has 1,600 shares of stock outstanding at a market price of $15 a share. Neither firm has any debt. The net present value of the acquisition is $4,500. What is the price per share of Principal after the acquisition?

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Financial Management: Principal inc is acquiring secondary companies for 29000 in

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Financial Management: Principal inc is acquiring secondary companies for 29000 in

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