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Lee Manufacturing's value of operations is equal to $900 million after a recapitalization (the firm had not debt before the recap). It raised $200 million
Lee Manufacturing's value of operations is equal to $900 million after a recapitalization (the firm had not debt before the recap). It raised $200 million in new debt and used this to buy back stock. Nichols had no short-term investments before or after the recap. After the recap, wd = . The firm had 30 million shares before the recap. What is P (the stock price after the recap)
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