Suppose Beta Industries and Delta Technology have identical assets that generate identical cash flows. Beta Industries is an​ all-equity firm, with 13 million shares outstanding that trade for a price of $19.00 per share. Delta Technology has 23 million shares​ outstanding, as well as debt of $74.10 million. According to MM Proposition​ I, what is the stock price for Delta Technology? (Round to the nearest​cent.) Suppose Delta Technology stock currently trades for $11.25 per share. What arbitrage opportunity is​ available? What assumptions are necessary to exploit this​ opportunity? (Round to the nearest​cent.)

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