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(12-7) VALUE OF EQUITY AFTER RECAPITALIZATION Valian Ltd. recently altered its capital structure. The total value of Valian is now $50 million (the firm had

image text in transcribed (12-7) VALUE OF EQUITY AFTER RECAPITALIZATION Valian Ltd. recently altered its capital structure. The total value of Valian is now $50 million (the firm had no debt before the capital structure change). It raised $20 million in new debt and used this to buy back stock. After the debt issuance and share buyback, wd=40%. What is S (the value of equity) after the capital structure change)

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