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Company A wants to boost their stock price. Right now, they have 40 million shares outstanding with a market price of $20 per share. They

Company A wants to boost their stock price. Right now, they have 40 million shares outstanding with a market price of $20 per share. They pay a 35% tax rate with stable earnings. Company A has no debt. They're going to borrow $200 million on a permanent basis and will use the borrowed funds to repurchase outstanding shares. What will be the stock price after recapitalization?

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