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YMPE Inc has 3 0 0 , 0 0 0 shares of common stock outstanding. The earnings estimate for next year is $ 1 2

YMPE Inc has

300, 000

shares of common stock outstanding. The earnings

estimate for next year is $

120, 000 .

What is the maximum amount of capital

spending that can occur without the firm issuing any additional equity if it

plans to maintain a debt

-

equity ratio of

0.8 ?

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