Glendale Marine Is Being Acquired by Inland Motors for $53,000

Multiple Choice

Glendale Marine is being acquired by Inland Motors for $53,000 worth of Inland Motors stock.Inland Motors has 6,200 shares of stock outstanding at a price of $49 a share.Glendale Marine has 1,700 shares outstanding with a market value of $30 a share.The incremental value of the acquisition is $2,600.What is the total number of shares in the new firm?

A) 7,229 shares
B) 7,282 shares
C) 7,529 shares
D) 7,852 shares
E) 7,900 shares