Pen Paper's sales are $$84,000,000,$ EBIT is $$52M,$ cost of goods sold are $$45M,$ and net income

is $$5,400,000.$ Account receivables is $$30M,$ inventory is $$18,000,000,$ and account payables

$$20,000,000.$ Pen Paper's cost of capital is $12\mathrm{.}5\%$ with a marginal tax rate of $30\%.$ Finally, the

debt to equity ratio is $140\%.$

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