Troyer Markets and Deb's Grocery Are All-Equity Firms

Troyer Markets and Deb's Grocery are all-equity firms.Troyer Markets has 2,400 shares outstanding at a market price of $14.80 a share.Deb's Grocery has 3,200 shares outstanding at a price of $28 a share.Deb's Grocery is acquiring Troyer Markets for $37,500 in cash.What is the merger premium per share?

A) $0
B) $0.825
C) $1.108
D) $1.216
E) $1.320