Hartford Mining has $80$ million shares that are currently trading for $$2$ per share and $$130$ million worth of debt. The debt is risk free and has an interest rate of $7\%($debt cost of capital$).$ The expected return of Hartford stock is $12\%($equity cost of capital$).$

Suppose Hartford decides to borrow an additional $$30$ million and uses this amount to repurchase shares of stock and reduce equity by $$30$ million. The interest rate on debt remains unchanged. Assume perfect capital markets $($no taxes$)$ and the risk $($unlevered beta$)$ of Hartford's assets is unchanged.

Round all answers to two decimals.

What is Hartford's new debt$-$to$-$equity ratio after additional borrowing?

$(2$ points$)$

What is Hartford's stock price after additional borrowing? $

$(2$ points$)$

What is Hartford's unlevered cost of equity $(r_u)($in $\%)?$

$\%(4$ points$)$

What is Hartford's equity cost of capital $(r_E)$ after additional borrowing $($in $\%)?\%(4$ points$)$