Monroe Inc. is an all-equity firm with 500,000 shares outstanding. Last year it had $2,000,000 of EBIT, and EBIT is expected to grow 5% annually in the future. The company pays out 75% of its earnings as dividends, and its tax rate is 40%. The company is considering issuing $5,000,000 in value of 8.5% coupon bonds (9.0% yield to maturity) and using the proceeds to repurchase stock. The risk-free rate is 4.5%, the market risk premium is 5.0%, and the firm's beta is currently 0.90. Assuming the shares could be repurchased at the price that existed prior to the recapitalization, what would the price per share be following the recapitalization? Also, use pre recapitalization stock price to calculate levered capital structure.