Suppose SuperStar Corp. and FreeWill Company have decided to merge. The current value of debt and equity are Equity = $4, 585.75 and 7, 202.84.59, Debt = $17, 114.25 and 19, 997.1 respectively. Because the two companies have seasonal sales, the combined firm's return on assets will have a standard deviation of 29 percent per year. For the new firm, the combined market value of assets is $48, 900, and the combined face value of debt is $45,000, the annual risk-free rate is 5 percent per year, compounded continuously, the merger finalizes in one rear. Using Black-Scholes to find the value of equity for the new firm, what was the gain on for shareholders? For bondholders? What happened to shareholder value here?