5. Blazingame Mill Works recently sold a tract of land it had owned for 30 years. All...
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5. Blazingame Mill Works recently sold a tract of land it had owned for 30 years.
All expenses and taxes have been paid, and the company has $10 million sitting in the bank as a result of the sale. Because there aren’t any pressing investment opportunities available, the board would like to distribute the money to shareholders. Most of the board members are high-income individuals and major stockholders themselves. Discuss the company’s options for disposing of the money.
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