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Neal Enterprises has no debt, its equity has a required return of 12%. The current value of the company is $45 million. Tax rate is

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Neal Enterprises has no debt, its equity has a required return of 12%. The current value of the company is $45 million. Tax rate is 40%. Neal is considering a capital restructuring, it will issue $16 million to buyback outstanding shares. Suppose the company can borrow at 7%. What will be the firm value, cost of equity and WACC after the capital restructuring

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