Suppose that Papa Bell, Incorporated's equity is currently selling for $$30$ per share, with $2\mathrm{.}5$ million shares outstanding. The firm also

has $7,000$ bonds outstanding, which are selling at $94$ percent of par. Assume Papa Bell was considering an active change to its capital

structure so as to have a D$/$E of $0\mathrm{.}4.$

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

How much would it have to sell?

Note: Enter your answer in dollars not in millions. Do not round intermediate calculations and round your final answer to $2$

decimal places.

Answer is complete but not entirely correct.