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A firm has assets of $200 millon, of which $28 milloin cash. It has debt of $112 million. If the firm were to repurchase $11.20

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A firm has assets of $200 millon, of which $28 milloin cash. It has debt of $112 million. If the firm were to repurchase $11.20 million of its stock, what would its new debt-to-equity ratio be? A 71.43% B. 142.86% C. 85.715 OD 35.71%

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