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Mitra Corporation is currently all equity financed and has a value of $50 million. Investors...

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Mitra Corporation is currently all equity financed and has a value of $50 million. Investors currently require a return of 18.1 percent on common stock. Mitra has a marginal tax rate of 40 percent. Mitra plans to issue $50 million of debt with a return of 7.5 percent and use the proceeds to repurchase common stock. What will be the value of the firm after the debt issue? Please state your answer in millions rounded to two decimal places. Enter your response below. Number million

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