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Tuscan Inc. is a no-growth firm. Its sales fluctuate seasonally, causing total assets to vary from $300,000 to $400,000, but fixed assets remain constant at

Tuscan Inc. is a no-growth firm. Its sales fluctuate seasonally, causing total assets to vary from $300,000 to $400,000, but fixed assets remain constant at $250,000. If the firm follows a maturity matching (or moderate) working capital financing policy, what is the most likely total of long-term debt plus equity capital?

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