Please explain in excel formula.

Firm A is considering a mergerlacquisition with Firm B. Based on the following data, what is the maximum price per st Firm A would pay to acquire Firm B in a tender offer? Firm A: Market value of debt: $1 million Market value of equity: $6 million Number of shares: 0.1 million Estimated total firm value based on value-based management model if the merger takes place: 7.2 million Firm B: Market value of debt: $4 million Market value of equity: $6 million Number of shares: 0.4 million Estimated total firm value based on value-based management model if the merger takes place: 12.8 million Select one: a. $18.5 b. $22.5 c. $21.6 d. $19.3 e. $20.9 The correct answer is: $22.5