Intro Tungsten Steel Corp. is financed with $100 million of debt and $100 million of equity. The debt has an expected return of 5%. The company wants to undertake additional borrowing to bring the level of debt up to $400 million. At that level, the debt will have an expected return of 7%. The marginal tax rate is 21% and the firm will go out of business in one year. Part 1 Attempt 1/10 for 10 pts. | Attempt 2/10 for 9.5 pts. Part 2 What is the new value of equity (in $ million)? 0+ decimals Submit