Suppose that Lil John Industries$$ equity is currently selling for $$27$ per share and that $2$ million shares are outstanding. The firm also has $50,000$ bonds outstanding, which are selling at $103$ percent of par. Assume Lil John was considering an active change to its capital structure so that the firm would have a Debt to Equity ratio $($D$/$E$)$ of $1\mathrm{.}4.$

Which type of security $($stocks or bonds$)$ would it need to sell to accomplish this?

Sell bonds and buy back stock

How much would the firm have to sell?

Note: Enter your answer in dollars not in millions. Round your intermediate calculations to $4$ decimal places and final answer to $2$ decimal places.