Phylo Inc. currently has 6 million shares outstanding, trading at $24.77. The stock's beta is 1.2. The book value of equity is $44.59 million, and the book value of long-term debt is 0. Treasuries yield 1% and the expected return on the S&P 500 is 5%. The company is thinking of issuing 100,000 bonds with a par value of $1,000 to repurchase its own stock. The yield to maturity on similar bonds issued by other companies is 5%. The average tax rate is 34%. What is the approximate value of the company after the restructuring (in $ million)? a. a. $190 b. $150 c. $170 d. $160 e. $180