Please provide step by step instructions, detailed explanations and answer, thank you! I asked this question previously and was not given the correct answer, the answer is from the options below. What would be the new stock price if CD recapitalizes with $$500,000$ of debt? Recall that the payout ratio is $100\%,$ so g$=0$

a$)$ $$25$

b$)$ $$25\mathrm{.}76$

c$)$ $$23\mathrm{.}64$

d$)$ $$26\mathrm{.}30$