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Trenton Fisheries is an all-equity firm with 38,000 shares outstanding at a value per share of $31. The firm is issuing $120,000 of debt and
Trenton Fisheries is an all-equity firm with 38,000 shares outstanding at a value per share of $31. The firm is issuing $120,000 of debt and using the proceeds to reduce the number of outstanding shares. How many shares of stock will be outstanding once the debt is issued? Ignore taxes. Question 3Select one: a. 19,000 shares b. 23,333 shares c. 25,742 shares d. 31,778 shares e. 34,129 shares
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