1-Value of Equity after Recapitalization

Nichols Corporation's value of operations is equal to $700 million after a recapitalization (the firm had no debt before the recap). It raised $315 million in new debt and used this to buy back stock. Nichols had no short-term investments before or after the recap. After the recap, w_d = 45%. What is S (the value of equity after the recap)? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.

2-Stock Price after Recapitalization

Lee Manufacturing's value of operations is equal to $900 million after a recapitalization. (The firm had no debt before the recap.) Lee raised $300 million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, w_d = 1/3. The firm had 38 million shares before the recap. What is P (the stock price after the recap)? Do not round intermediate calculations. Round your answer to the nearest cent.

$

3-Shares Remaining After Recapitalization

Dye Trucking raised $190 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $9.50. If Dye had 60 million shares of stock before the recap, how many shares does it have after the recap? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.

million shares