Digital Fruit is financed solely by common stock and has outstanding $36$ million shares with a market price of $$15$ a share. It now announces that it intends to issue $$270$ million of debt and to use the proceeds to buy back common stock. There are no taxes.

What is the expected market price of the common stock after the announcement? $($We assume the price per share will remain the same.$)$

How many shares can the company buy back with the $$270$ million of new debt that it will issue?

Note: Enter your answer in millions rounded to $1$ decimal place.

What is the market value of the firm $($Equity plus Debt$)$ after the change in capital structure?

Note: Enter your answer in millions.

What is the debt ratio $[$Debt$/$Total Assets or Debt$/($Debt $+$ Equity$)]$ after the change in capital structure?