In 2005 Dub Tarun founded a firm using $200,000 of his own money, $200,000 in senior (bank) debt, and an additional $100,000 in subordinated debt borrowed from a family friend. The senior debt pays 10% interest, while the sub debt pays 12% interest and is convertible into 10% of the firm's equity ownership at the option of the investor, J Martin Capital. Both debt issues have 10-year maturities. In March 2006 the firm's financial structure appears as follows:
Please see word attachment for rest of problem.
Note: Only use the attached formatted excel sheet for problem.
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