JK Manufacturing is currently an all-equity firm with 50 million shares outstanding and a stock price of $15.00 per share. Although investors currently expect JK to remain an all-equity firm, JK plans to announce that it will borrow $50 million and use the funds to repurchase shares. JK will pay interest only on this debt, and it has no further plans to increase or decrease the amount of debt. JK is subject to a 40% corporate tax rate. c) What is JKs share price after the share repurchase? (Show your calculation)