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Q3, kindly solve this finance question ABC Inc. has a debt ratio (total debt total asset) of 30% and plan a share repurchase program using

Q3, kindly solve this finance question

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ABC Inc. has a debt ratio (total debt total asset) of 30% and plan a share repurchase program using cash of $7.0 million. The total debt of the company is $30 million. If the firm uses a cash to repurchase share, what is the resulting debt ratio? Answer The debt ratio after repurchase will be =

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