Gregory Savings Association has just received an offer to merge from Courthouse County Bank. Gregory’s stock is currently selling for $60 per share. The shareholders of Courthouse County agree to pay Gregory’s stockholders a bonus of $5 per share. What is the merger premium in this case? If Courthouse County's shares are now trading for $85 per share, what is the exchange ratio between the equity shares of these two institutions? Suppose that Gregory has 20,000 shares and Courthouse County has 30,000 shares outstanding. How many shares in the merged firm will Gregory’s shareholders wind up with after the merger? How many total shares will the merged company have outstanding?