Alto and Solo Are All-Equity Firms

Alto and Solo are all-equity firms.Alto has 2,400 shares outstanding at a market price of $24 a share.Solo has 4,000 shares outstanding at a price of $17 a share.Solo is acquiring Alto for $63,000 in cash.The synergy value of the acquisition is $5,500.What is the net present value of acquiring Alto to Solo?

A) $100
B) $400
C) $1,200
D) $2,400
E) $5,500