Suppose Summa Industries and Cumma Technology have identical assets that generate identical cash flows. Summa Industries is an all$-$equity firm, with $5$ million shares outstanding that trade for a price of $$15\mathrm{.}00$ per share. Cumma Technology has $23$ million shares outstanding, as well as debt of $$22\mathrm{.}50$ million.

a$.$ According to MM Proposition I, what is the stock price for Cumma Technology?

b$.$ Suppose Cumma Technology stock currently trades for $$11\mathrm{.}81$ per share. What arbitrage opportunity is available? What assumptions are necessary to exploit this opportunity?