$3\_$CH$15$Question $4,$ P$15-19($similar to$)$Part $1$ of $5$HW Score: $0\%,0$ of $6$ points Points: $0$ of $1$SaveQuestion listQuestion $1$Rally, Inc., is an all$-$equity firm with assets worth $$22$ billion and $7$ billion shares outstanding. Rally plans to borrow $$12$ billion and use funds to repurchase shares. Rally's corporate tax rate is $25\%,$ and Rally plans to keep its outstanding debt equal to $$12$ billion permanently.a$.$ Without the increase in leverage, what would be Rally's share price?b$.$ Suppose Rally offers $$3\mathrm{.}38$ per share to repurchase its shares. Would shareholders sell for this price?c$.$ Suppose Rally offers $$3\mathrm{.}86$ per share, and shareholders tender their shares at this price. What will be Rally's share price after the repurchase?d$.$ What is the lowest price Rally can offer and have shareholders tender their