Marley's is an unlevered firm with a total market value of $220,000 and 5,000 shares of stock outstanding. The firm has expected EBIT of $10,000. The firm is considering a bond issue of $88,000 with an attached interest rate of 5.9 percent. The bond proceeds will be used to repurchase shares. Assume a 20 percent tax rate. What will be the price per share if Marley announces the repurchase? Answer $47.52 show steps