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12. An LBO tansactien reqaites that a mboedinutd deht lemder pronides cupital in dee amount of 5860 million. The lender requite wash interet of thi per year (inientif puif amnully and will exit at time t - 6 . In alditice, the lender requires an equity hicher tw bring the IRR of his inveitroent to 25S. Anue ing that the lender will be paid the face value of the subordinated debt at t=6 in the a mount of 5860 million, culculate the required equity kicker. 19PTS 13. Consider a start-up requiring 515,000 initul funding Furthermore, aisurne that a Ve: estimates the flrm woald yield tbe followinecedi flows widh probability p=0.7 and 1p. =0.3, respectively. What percentage of equity would the VC demand in a smple cuinuon stock cupitalizations in rder to attain an expected IRR =40 h