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Lee Manufacturings value of operations is equal to $900 million

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Lee Manufacturing’s value of operations is equal to $900 million after a recapitalization
(the firm had no debt before the recap). Lee raised $300 million in new debt
and used this to buy back stock. Lee had no short-term investments before or after
the recap. After the recap, wd  1/3. The firm had 30 million shares before the
recap. What is P (the stock price after the recap)?
Submitted: 5 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 5 years ago.

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