Texas Inc. Is all equity financed and uses common shares to finance its investments and operations. Texas Inc.s 300,000 common shares are currently trading at a price of $42 each. The companys average tax rate is 35%. Ignoring distress costs, determine the price per share of Texas Inc if Texas issues 1,100 bonds at a price of $900 each ($990,000 debt) in order to repurchase a proportion of its shares. Texas Inc.s debt level is fixed in perpetuity and the risk of tax shields is the same as the risk of debt