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A company has raised $90 million to finance their business, with a 50/50 debt to equity ratio. If they want to raise debt to reach

A company has raised $90 million to finance their business, with a 50/50 debt to equity ratio. If they want to raise debt to reach a 70/30 D/E ratio, how much debt would they need to raise?

options:

$40 million

$15 million

$60 million

$35 million

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