Gonzalez Inc. has a current share price of $40 and 20 million shares outstanding. Suppose Gonzalez Inc. announces to lower its corporate taxes by borrowing $400 million and using the proceeds to repurchase shares. Shareholders expect this change in debt to be permanent and they believe that the only market frictions are corporate taxes and costs of financial distress. Gonzalez pays a corporate tax rate of 20%, and shareholders expect that Gonzalez Inc. will be able to take full advantage of the interest tax shields. They also estimate that the present value of financial distress costs is $15 million. What will be the new price per share following the announcement above