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Albemarle Corporation, currently an all - equity firm with 9 . 0 0 million shares outstanding, each worth 1 4 . 5 0 , is
Albemarle Corporation, currently an allequity firm with million shares
outstanding, each worth is considering borrowing to repurchase
some of its stocks. Once the loan is issued, the corporation plans to maintain its
capital structure constant. Albemarle is subject to a corporate tax rate. At
what price will Albemarle repurchase its shares?
Instructions: Round the result to two decimal places and do not put the symbol in
the answer box. For example if you get a result of then write in the
answer box below.
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