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After a successful college football career. Tim Turbo partnered with Danny Waffle (naming themselves TD Industries) to manufacture and distribute fruit pies. On 1/1/2022, the

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After a successful college football career. Tim Turbo partnered with Danny Waffle (naming themselves TD Industries) to manufacture and distribute fruit pies. On 1/1/2022, the company had one product that generated EBIT of $200,000 on 12/31 of each year (forever), with an asset beta of 1.25 . The firm faced a tax rate of 40 percent, and the firm had no debt outstanding. At that time, the risk-free rate, RF, was 3 percent and the MRP was 5 percent. The firm had 100,000 shares outstanding, and all earnings were (and will always be) paid out as dividends. As you can calculate, the firm had a price / share of $12.97. On 1/2/2022 at 8:00 a.m., TD announced a new pie product: - The project required that the company spend $750,000 to purchase The Buckeye Grinder 2500 , a buckeye mashing machine. For tax purposes, the machine will not be depreciated since it will last forever. No working capital is required. - To fund the project, $X will be raised as perpetual debt, with an annual coupon rate equal to the risk-free rate, and interest paid annually. The balance of the funds needed will be raised as new equity. - The project increased the company's EBIT by $466,666.66 a year forever (starting on 12/31/2022). - The project had an asset beta of 1.7 . As you can calculate, when the market opened at 9:30 a.m., the price / share fully adjusted to the innouncement, selling for $31.0208. The company then issued the new shares and debt, and mplemented the project. low many shares are outstanding after the entire transaction is complete? Enter your answer as an teger, with no punctuation. For example, if your answer is 105,201.33, enter "105201". Canvas ay insert a comma, showing "105,201

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