Question: Demonstrate Modigliani and Miller's proposition about the relationship between leverage and stock price by calculating the share price of a levered firm based on the

Demonstrate Modigliani and Miller's proposition about the relationship between leverage and stock price by calculating the share price of a levered firm based on the following information. As an all equity firm, it had total assets of $1,000 million and 50 million shares outstanding. The firm recapitalizes by issuing $400 million of debt and repurchasing 20 million shares. The share price after the share repurchase is $_______.Do not include a $ sign in your answer.

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