A company$$s market value is $100$ million euros, with $20$ million in perpetual debt and $80$ million in equity. This company decides to issue new perpetual debt with a market value of $50$ million euro, to repurchase equity. Both the old and new debt require a return of $7\%$ and offer a coupon rate of $8\%.$ If the corporate tax rate is $30\%,$ determine the new value of the equity.