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Nichols Corporation's value of operations is equal to $300 million after a recapitalization (the firm had no debt before the recap). It raised $200 million
Nichols Corporation's value of operations is equal to $300 million after a recapitalization (the firm had no 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= 20%. What is S (the value of equity after the recap)? Enter your answer in millions of dollars.
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