A firm currently has 2000 shares selling for $20 a share. The firm currently has no debt. The corporate tax rate is 35% and there are no personal taxes or financial distress costs. If the firm announces it is issuing $10,000 in bonds and using the proceeds to repurchase shares, what will the total value of the firm's equity (E) be after the repurchase is complete?
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A firm currently has 2000 shares selling for $20 a share. The firm currently has no debt. The corpor...
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