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An all-equity firm with 200,000 shares outstanding, Antwerther Inc., has $3,000,000 of EBIT, which is expected to remain constant in the future. The firm currently has no short-term investments. Its tax rate is 40%. The company is considering levering up to wa= 40% of total value of operations (post debt issuance, not the current total value of operations) issuing 10.0% bonds (ra=10.00%) and using the proceeds to repurchase stock. The risk-free rate is 6.5%, the market risk premium is 5.0%, and the beta is currently 0.90, but the CFO believes beta would rise to 1.10 if the recapitalization occurs. What is price before the recapitalization (right now)? Hint: you will need to find current WACC and Vop first. (3 points) Answers: $54.55 $9.00 $50.00 $81.82