Consider the book-value balance sheet for Musco Inc. for 2022. Book Value Balance Sheet Current Assets...

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Consider the book-value balance sheet for Musco Inc. for 2022. Book Value Balance Sheet Current Assets Fixed Assets 52,907 260,476 313,383 Total Assets Accounts Payable 59,632 Non-Debt Long-Term Liabilities 23,745 Long-Term Debt 60,415 Total Liabilities 143,792 Equity 169,591 Total Liabilities & Equity 313,383 The firm faces the statutory 21% flat tax rate. There is no debt in the current liabilities. The firm has 7,506 shares outstanding, which have a current market price of $45.32 per share. Assume that the market values of the accounts payable, current assets and long-term debt are equal to their book-value. Also, assume that the non-debt long-term liabilities have no market value. The firm's managers are considering issuing a new $35,000 in debt and then paying out the proceeds as a special dividend. Based on the assumptions of the 1963 Modigliani and Miller relationship, what will be the price of the firm's shares after this proposed recapitalization? (Show your answer rounded to two decimal places, e.g. 37.57) Consider the book-value balance sheet for Musco Inc. for 2022. Book Value Balance Sheet Current Assets Fixed Assets 52,907 260,476 313,383 Total Assets Accounts Payable 59,632 Non-Debt Long-Term Liabilities 23,745 Long-Term Debt 60,415 Total Liabilities 143,792 Equity 169,591 Total Liabilities & Equity 313,383 The firm faces the statutory 21% flat tax rate. There is no debt in the current liabilities. The firm has 7,506 shares outstanding, which have a current market price of $45.32 per share. Assume that the market values of the accounts payable, current assets and long-term debt are equal to their book-value. Also, assume that the non-debt long-term liabilities have no market value. The firm's managers are considering issuing a new $35,000 in debt and then paying out the proceeds as a special dividend. Based on the assumptions of the 1963 Modigliani and Miller relationship, what will be the price of the firm's shares after this proposed recapitalization? (Show your answer rounded to two decimal places, e.g. 37.57)