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 $205,000$ shares of stock outstanding. Under Plan II$,$ there would be $155,000$ shares of stock outstanding and

$$2\mathrm{.}17$ million in debt outstanding. The interest rate on the debt is $6$ percent and there are no taxes.

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

Note: 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?

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

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

Levered plan firm value