ns Problem 16-08 (Stock Price after Recapitalization) 9 0 0 eBook O Stock Price after Recapitalization 0 Check My Work (5 remaining) Lee Manufacturing's value of operations is equal to $900 million after a recapitalization. (The firm had no debt before the recap.) Lee raised $300 million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, we - 1/3. The firm had 26 million shares before the recap. What is P (the stock price after the recap)? Do not round intermediate calculations. Round your answer to the nearest cent. OeIcon Key Check My Work (5 remaining)