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21. A firm has issued 500,000 shares of common stock outstanding and keeps a leverage ratio of 0.75. The earnings are estimated to be $90,000

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21. A firm has issued 500,000 shares of common stock outstanding and keeps a leverage ratio of 0.75. The earnings are estimated to be $90,000 for next year. What is the maximum amount of new investment that the firm can afford without issuing any additional equity? ARPAN

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