Bidding firm (Firm B) has 5665 shares outstanding that are currently selling at $47 per share. Target firm (Firm T) has 1732 shares outstanding that are currently selling at $18 per share. Assume that both firms have no debt outstanding. Firm B has estimated that the value of the synergistic benefits from acquiring Firm T is $9115.
Suppose Firm T is agreeable to a merger by an exchange of stock. If B offers three of its shares for every five of T's shares, what is the NPV of the merger? (Round answer to 2 decimal places. Do not round intermediate calculations)