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Learn and Earn Company is financed entirely by common stock that is priced to offer a 24% expected return. If the company repurchases 50% of

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Learn and Earn Company is financed entirely by common stock that is priced to offer a 24% expected return. If the company repurchases 50% of the stock and substitutes an equal value of debt yielding 6%, what is the expected return on the common stock after refinancing? 42% 32% 28% 40%

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