On the basis of your answers to Problems 23-1 and 23-2, if Bremer were to acquire Quantix, what would be the range of possible prices that it could bid for each share of Quantix common stock?

Bremer Corporation is interested in acquiring Quantix Corporation. Quantix has 1 million shares outstanding and a target capital structure consisting of 30% debt. Quantix's debt interest rate is 7%. Assume that the risk-free rate of interest is 4% and that the market risk premium is 5%. Both Quantix and Bremer face a 30% tax rate.