Phylo Inc. currently has $8$ million shares outstanding, trading at $$23\mathrm{.}84.$ The stock's beta is $1\mathrm{.}2.$ The book value of equity is $$57\mathrm{.}22$ million, and the book value of long$-$term debt is $0.$ Treasuries yield $0\mathrm{.}6\%$ and the expected return on the S&P $500$ is $5\%.$

The company is thinking of issuing $92,000$ 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 $34\%.$

Attempt $1/3$ for $10$ pts$.$

Part $1$

What is the current market value of equity $($in $ million$)?$

$0+$ decimals

Attempt $1/3$ for $10$ pts$.$

Part $2$

What is the total current value of the company before announcing the restructuring $($in $ million$)?$

$0+$ decimals

Attempt $1/3$ for $10$ pts$.$

Part $3$

What is the company's current WACC?

$3+$ decimals

Attempt $1/3$ for $10$ pts$.$

Part $4$

How much debt does the company want to issue $($in $ million$)?$

$0+$ decimals

Attempt $1/3$ for $10$ pts$.$

Part $5$

What is the value of the company after the restructuring $($in $ million$)?$

$0+$ decimals

Attempt $1/3$ for $10$ pts$.$

Part $6$

What is the new value of equity $($in $ million$)?$

$0+$ decimals