GTC Inc. is considering the following independent projects for the coming year.

Investment IRR

Project A $$50$ million $15\%$

Project B $$120$ million $20\%$

Project C $$80$ million $8\%$

Project D $$100$ million $12\%$

The cost of capital for the projects is $10\%.$ The company's net income is expected to be $$350$ million. The company has to maintain its target capital structure, $30\%$ debt and $70\%$ common equity.

c$)$ If the company's net income is expected to be $$150$ million $($instead of $$350$ million$),$ how much common stocks $($dollar value$)$ should be newly issued? The company must maintain its target capital structure. $(10$ pts$)$