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Sphinx Brewery currently has no debt but plans to issue $36M of perpetual debt and repurchase an equal value of equity shares. The tax rate
Sphinx Brewery currently has no debt but plans to issue $36M of perpetual debt and repurchase an equal value of equity shares. The tax rate is 29%. Find the number of shares that will be repurchased if there are currently 2M shares outstanding with a total market value of $120M. 490,213 551,978 482,700 476,850 646,245
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
