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As a financial Analyst for Ampang & Co., you have to consider two firms, Firm X and Firm Y. Both firms have identical assets that

As a financial Analyst for Ampang & Co., you have to consider two firms, Firm X and Firm Y. Both firms have identical assets that generate identical cash flows. Firm Y is an all-equity firm, with 1 million shares outstanding that trade for a price of $24 per share. Firm X has 2 million shares outstanding and $12 million in debt at an interest rate of 5%. Calculate the price per share for Firm X. (12 Marks)

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