Foxland, Incorporated, 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 $160,000$ shares of stock outstanding. Under Plan II$,$ there would be $110,000$ shares of stock outstanding and

$$1\mathrm{.}41$ million in debt outstanding. The interest rate on the debt is $7$ percent and there are no taxes.

a$.$ Use M&M Proposition I to find the price per share.

Note: Do not round Intermedate calculatlons 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?

Note: Do not round Intermedate calculations and enter your answers In dollars, not millions of dollars, rounded to the nearest

whole number, e$.$g$.,32.$

Answer is complete but not entirely correct.