#$13.$ Panther Corp. currently has two divisions $-$ a health insurance division and a hospital division. Next year$$s expected revenue for the health division is $$630$ mil. and the expected unlevered cash flow for the division is $$420$ mil. Next year$$s expected revenue for the hospital division is $$330$ mil. and the expected unlevered cash flow for the division is $$220$ mil.. Revenues and cashflows for the health care division are expected to grow at a $4\%$ rate per year in perpetuity and the revenues and cash flows for the hospital division are expected to grow at $3\%$ rate per year in perpetuity. Both division$$s have a weighted average cost of capital of $9\%.$ The ratio of unlevered cashflows to revenues of both divisions is expected to remain constant over time. Panther Corp. has $200$ mil. shares outstanding and $$3$ bil. in debt. Because of fractured relationships with doctors and competitive dynamics with other health insurers, management believes that if the hospital division is spun off, next year$$s expected revenues for hospitals will experience a $22\%$ increase relative to the division$$s revenues without a spinoff. After this one$-$time sharp increase, hospital revenues will growth thereafter at the regular $3\%$ rate. Nothing else will change in a spinoff, except there will be a one$-$time immediate cost to execute the spinoff of $$95$ million arising from legal, consulting, and banking fees. Suppose a rumor of this spinoff is leaked to the market and the market believes that there is an $80\%$ chance that the rumor is valid and that the firm will soon announce the spinoff. What would you expect for the change in Panther$$s stock price when the rumor is first leaked to the market?