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PLEASE SHOW ALL WORK: MAD Inc. has a capital structure consisting of 40 percent debt and 60 percent common equity financing. The company has $400

PLEASE SHOW ALL WORK: MAD Inc. has a capital structure consisting of 40 percent debt and 60 percent common equity financing. The company has $400 million in net income and plans to pay out 25 percent of their earnings as dividends. What is the maximum amount of new financing that the company can raise without selling new common stock?

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