step by step calculations please and thank you

Question 3 a) Assume you are in a Modigliani and Miller world (M \&M propositions I and II hold). AB Corporation is unlevered and is valued at $640,000. AB is currently deciding whether including debt in their capital structure would increase their value. Under consideration is issuing $300,000 in new debt with an 8% interest rate. AB would repurchase $300,000 of stock with the proceeds of the debt issue. There are currently 32,000 shares outstanding and their effective marginal tax bracket is zero. Requirement (i) b) Now assume you are in a Modigliani Miller world case II. CD Corp. is all equity financed with 5,000 shares outstanding worth $7 each. They are planning on issuing $10,000 of new perpetual debt at the 8% market rate of interest. The effective tax rate is 25%. Requirement i) State, using supporting M\&M theory, what the firm value will be after the change. (4 marks) ii) Calculate the market value of the firm's outstanding equity and share price after they make the debt for equity exchange