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Burger Queen has a value of $23,000 in a good economy and $18,000 in a recession. The firm has $20,000 of debt. The probability of
Burger Queen has a value of $23,000 in a good economy and $18,000 in a recession. The firm has $20,000 of debt. The probability of a recession is 50%. The firm is considering a project that would change the firm values to $27,000 in a good economy and $14,000 in a recession. What is the forecasted bondholder value if the firm follows through with the proposed project (Round answer to 0 decimals, do not round intermediate calculations)
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