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Problem 15-5 " TUTOR PLEASE PLACE SOLUTION ON ON A EXCEL SPREADSHEET, THANK YOU" Stock Price After Recapitalization eBook Lee Manufacturing's value

Problem 15-5 " TUTOR PLEASE PLACE SOLUTION ON ON A EXCEL SPREADSHEET, THANK YOU"
Stock Price After Recapitalization
eBook


Lee Manufacturing's value of operations is equal to $900 million after a recapitalization (the firm had no debt before the recap). Lee raised $300 million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, wd = 1/3. The firm had 24 million shares before the recap. What is P (the stock price after the recap)? Round your answer to the nearest cent.
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Finance-8092902.xls

Lee Manufacturing's value of operations is equal to $900 million after a recaptitalization (the firm had no debt before the recap). Lee raised $300 million in new debt and used this to buy back...

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