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Lemansky Enterprises is considering a change from its current capital structure. The company currently has an all - equity capital structure and is considering a

Lemansky Enterprises is considering a change from its current capital structure. The company currently has an all-equity capital structure and is considering a capital structure with 30 percent debt. There are currently 8,320 shares outstanding at a price per share of $50. EBIT is expected to remain constant at $57,720. The interest rate on new debt is 5 percent and there are no taxes. Suppose the company does convert to the new capital structure. Show how Rebecca can maintain her current cash flow.
Note: Do not round intermediate calculations and round your answer to the nearest whole number, 32. Number of shares stockholder should sell?? ANSWER IS NOT 98

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