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14 A company has 4 million ordinary shares outstanding at a book value of $1.00 per share. The shares trade for $2.00 per share.

14 A company has 4 million ordinary shares outstanding at a book value of $1.00 per share. The shares trade for $2.00 per share. It also has $3,000,000 in face value of debt that trades at 120% of par. What is its appropriate ratio of equity to value for WACC purposes?

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