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Kinston Enterprises has no debt and a debt obligation of $ 4 7 million that is due now. The market value of Kinston's assets is
Kinston Enterprises has no debt and a debt obligation of $ million that is due now. The market value of Kinston's assets is $ million, and the firm has no other liabilities. Assume that capital markets are perfect and that Kinston has million shares outstanding.
The number of new shares that Kinston must issue to raise the capital needed to pay its debt obligation is closest to:
million.
million.
million.
million.
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