bounce houz inc. is all equity financed with a $22 share price and with 30 million shares outstanding. The company wants to buy back shares by issuing 300 million in debt. Shares will be repurchased at a fair price. Assume the debt willl be permanent debt and that the appropriate cost of debt will be 4% and the current corporate tax rate the firm pays is 30%

A. 660

B.90

C.600

D. 0.5

E.0.333

F. 0.666

G.12

H.18

I.300

j. 1

k. 25

L . 750

What will be the new share price when the recap is announced ( in dollars per share)