The Jean Outlet is an all equity firm that has 154000 shares of stock outstanding. The company has decided to borrow the $2.6 million to
The Jean Outlet is an all equity firm that has 154000 shares of stock outstanding. The company has decided to borrow the $2.6 million to repurchase 9400 shares of its stock from the estate of a deceased shareholder. What is the total value of the firm if you ignore taxes?
Provide your answer in dollars, to the nearest $1. Do not enter the dollar sign, or any other punctuation.
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Authors: Andrew W. Lo, Shomesh E. Chaudhuri
1st Edition
0691183821, 978-0691183824
