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A firm needs to raise $ 2 5 0 million for a project. If external financing is used, the firm faces flotation costs of 1

A firm needs to raise $250 million for a project. If external financing is used, the firm faces flotation costs of 15% for equity and 4% for debt. If the project is to be financed 70% with equity and 30% with debt, how much cash must the firm raise in order to finance the project?
A) $220.8 million
B) $223.8 million
$250.0 million
D) $279.3 million
$283.1 million
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