Business, 24.04.2021 01:00 anonymous1813
You currently own 900 shares of JKL which is an all-equity firm with 250,000 shares of stock outstanding at a market price of $40 a share. The company's earnings before interest and taxes are $120,000. JKL has decided to issue $1 million of debt at 6.5 percent interest and use the proceeds to repurchase shares of stock. How many shares of JKL stock must you sell to unlever your position if you can loan out funds at 6.5 percent interest
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You currently own 900 shares of JKL which is an all-equity firm with 250,000 shares of stock outstan...
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