Acquiring Company is considering buying target Company. Target Company is a small biotechnology firm that develops products licensed to the major pharmaceutical firms. Development costs are expected to generate negative cash flows during the first two years of the forecast period of $(10) million and $(5) million respectively. Licensing fees are expected to generate positive cash flows during year 3 through 5 of the forecast period of $5 million, $10 million, and $15 million respectively. Because of emergence of competitive products, cash flow is expected to grow at a modest 5% annually after the fifth year. The discounted rate for the five years is estimated to be 20% and then drop to the industry average of 10% beyond the fifth year. Also, the present value estimate net synergy by combining Acquiring and Target companies is $30 million. Calculate the minimum and maximum purchase prices for Target Company.