TT Corp trades at $$2\mathrm{.}50$ per share with $350$ million shares outstanding. The equity has a Book Value of $$250$ million and the Book Value of debt is $$450$ million. TT Corps cost of debt is assumed to be $6\mathrm{.}5\%.$ The equity Beta is $1\mathrm{.}75,$ the risk$-$free rate is $3\mathrm{.}5\%,$ and the expected return on the market is $9\mathrm{.}5\%.$ In this case, the assumption is no taxes or market imperfections. TT Corp recapitalizes and issues $$150$ million in debt and buys back equity with the proceeds.

$1)$ After this recap of issuing $150$M in debt, what is PreTax WACC $($asset cost of capital$)?$ Also, further after the recap issuing $150$M in debt, TT Corps cost of debt becomes $6\mathrm{.}9\%.$ What is the new cost of equity after this recap? $2)$ From TT Corp's perspective what is the NPV after recap?