Guido's and Elrod's Are All-Equity fiRms

Guido's and Elrod's are all-equity firms. Guido's has 2,200 shares outstanding at a market price of $37 a share. Elrod's has 3,100 shares outstanding at a price of $46 a share. Elrod's is acquiring
Guido's for $82,500 in cash. The incremental value of the acquisition is $4,400. What is the net
Present value of acquiring Guido's to Elrod's?

A) -$1,100
B) $2,200
C) $3,300
D) $4,400
E) $7,700