Wolverine Corp. currently has $5,000,000$ in equity outstanding and $1,000,000$ in debt outstanding. The firm currently has $500,000$ shares of common stock outstanding. The firm is contemplating issuing an additional $1,000,000$ in debt and using the proceeds to repurchase shares. The corporate tax rate is $40\%.$ Assume perfect markets except for the above corporate taxes.

What will the firm's stock price be the moment after the firm announces its refinancing plan?