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Nighthawk Steel, a manufacturer of specialized tools, has $5,300,000 in assets. Temporary current assets $2,600,000 Permanent current assets 1,580,000 Capital assets 1,120,000 Total assets $5,300,000
Nighthawk Steel, a manufacturer of specialized tools, has $5,300,000 in assets. Temporary current assets $2,600,000 Permanent current assets 1,580,000 Capital assets 1,120,000 Total assets $5,300,000 Short-term rates are 10 percent. Long-term rates are 15 percent. (Note that longterm rates imply a return to any equity). Earnings before interest
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