Glendale Marine Is Being Acquired by Inland Motors for $60,000

Multiple Choice

Glendale Marine is being acquired by Inland Motors for $60,000 worth of Inland Motors stock. Inland Motors has 8,200 shares of stock outstanding at a price of $51 a share. Glendale Marine has 1,600 shares outstanding with a market value of $36 a share. The incremental value of the acquisition is $3,200. What is the total number of shares in the new firm?

A) 9,229
B) 9,376
C) 9,529
D) 9,852
E) 9,900