7. Bat Chemicals has no cash and a debt obligation of $40 million that is due now. The market value of Bat's assets is $86 million. The company has no other liabilities. Assume perfect capital markets. a. Suppose Bat has 12 million shares outstanding. What is the company's current share price? b. How many shares does Bat have to issue in order to repay its debt obligation? c. What will the share price be after repayment of the debt