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2. Sun Minerals, Inc. is considering issuing additional long-term debt to finance an $20 million expansion. At the present time, the company has $220 million

2. Sun Minerals, Inc. is considering issuing additional long-term debt to finance an $20 million expansion. At the present time, the company has $220 million in 10 percent debt outstanding. Its after-tax net income is $22.5 million, and the company is in the 25 percent tax bracket. The company is required by the debt holders to maintain its times interest earned ratio at 2.1 or greater. If the interest rate on additional debt is instead 8.5 percent How much unused debt capacity does the company have? Round answer to one decimal

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