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A firm has assets of $280 million, of which $28 million is cash. It has debt of $112 million. If the firm were to repurchase

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A firm has assets of $280 million, of which $28 million is 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% OB. 142.86% C. 85.71% OD. 35.71%

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