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To support its operations next year, AO Smith Corporation will need (in $ millions) total assets of $2,334 and it will have available financial resources
To support its operations next year, AO Smith Corporation will need (in $ millions) total assets of $2,334 and it will have available financial resources (liabilities and equity) of $1,766. Assuming the company can finance short-term financial needs by issuing short-term notes at a cost of 6%, by how much will the companys interest expense rise due to having to fund its growth in assets?
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