Assume that your company, which is just been formed, will require the purchase of $$4,000,000$ of total assets, and that these assets are expected to produce a basic earnings power $($BEP$)$ ratio of $16$ percent this year. The firm has two options for financing the purchase of these assets. The first is to use $100$ percent equity financing $($that is$,$ it will issue $$4,000,000$ of equity$).$ The second option is to issue some debt, where the debt will have a before$-$tax cost of $5\mathrm{.}00$ percent. If your company uses debt, it wants to use enough debt to double its ROE relative to its ROE with $100\%$ equity financing. For example, if your firm expects an ROE of $5$ percent when it is $100\%$ equity financed, then it wants to earn an ROE of $10$ percent of debt is used. Assume that the tax rate is $40$ percent for both options. Determine how much debt your firm will have to use to double its ROE.