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Problem $6$:

Bellwood Corp. is comparing two different capital structures. Plan I would result in $28,000$ shares of stock and $$88,500$ in debt. Plan II would result in $22,000$ shares of stock and $$265,500$ in debt. The interest rate on the debt is $4$ percent. Assume that EBIT will be $$105,000.$ An all$-$equity plan would result in $31,000$ shares of stock outstanding. Ignore taxes. What is the price per share of equity under Plan I $?$ Plan II$?$