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Gulf Shores Inn is comparing two separate capital structures. The first structure consists of 275,000 shares of stock and no debt. The second structure consists

Gulf Shores Inn is comparing two separate capital structures. The first structure consists of 275,000 shares of stock and no debt. The second structure consists of 222,000 shares of stock and $1.58 million of debt. What is the price per share of equity?

$38.53

$34.07

$31.23

$36.69

$29.81

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