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Question 2 5 pts In the absence of any leverage, Coleridge Corp. would have equity worth $66 million. However, it has $24 million of debt,
Question 2 5 pts In the absence of any leverage, Coleridge Corp. would have equity worth $66 million. However, it has $24 million of debt, and the level of debt will remain constant permanently. Coleridge has not changed the scale of its operations because of the leverage. The corporate tax rate is 20%. Coleridge's required return on debt is 7%. What is the value of the firm (i.e., the debt plus the equity)? Report a number in millions rounded to one digit after the decimal, and do not type a dollar sign
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