Smith-Miler Merger Smith Enterprises Can Acquire Miller, Inc for $250,000 in Either

Smith-Miler Merger
Smith Enterprises can acquire Miller, Inc for $250,000 in either cash or stock. Both companies are 100% equity financed. The synergy value of the acquisition for Smith is $35,000. Currently Smith has 25,000 shares outstanding which trade at $29 a share, whereas Miller has 15,000 shares outstanding that trade at $14 a share.
-What is the merger premium over Miller's stock price?

A) 19%
B) 16%
C) 21%
D) 23%