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Problem 24-8 Security and Seniority Proctor Power has fixed assets worth $210 million and net working capital worth $110 million. It is financed partly by
Problem 24-8 Security and Seniority Proctor Power has fixed assets worth $210 million and net working capital worth $110 million. It is financed partly by equity and partly by three issues of debt. These consist of $240 million of First Mortgage Bonds secured only on the company's fixed assets, $110 million of senior debentures, and $130 million of subordinated debentures. If the debt were due today, how much would each debtholder be entitled to receive? (Leave no cells blank - be certain to enter "O" wherever required. Enter your answers millions.) Mortgage bonds Senior debentures Subordinated debentures Payoff million million million
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