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Aptech Corp. is currently an all-equity firm with a firm value of $487 million. The shares outstanding is 10 million. If Aptech Corp. issue debt
Aptech Corp. is currently an all-equity firm with a firm value of $487 million. The shares outstanding is 10 million. If Aptech Corp. issue debt at par to collect $50 million and repurchase its common stocks with the $50 million cash, what is the stock price after the repurchase? Assume the tax rate is 20%.
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