Byrd Corporation is comparing two different capital structures, an all$-$equity plan $($Plan I$)$

and a levered plan $($Plan II$).$ Under Plan I, the company would have $185,000$ shares of

stock outstanding. Under Plan II$,$ there would be $135,000$ shares of stock outstanding

and $$1\mathrm{.}92$ million in debt outstanding. The interest rate on the debt is $7$ percent and

there are no taxes.

a$.$ Use MM Proposition I to find the price per share. $($Do not round intermediate

calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the value of the firm under each of the two proposed plans? $(($Do not round

intermediate calculations and enter your answers in dollars, not millions of dollars,

rounded to the nearest whole number, e$.$g$.,1,234,567.)$