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a company expansion based on next few years state of economy has bond issue outstanding w/face value of $34 million due in 1 year. Covenants assoct'd w/bond issue prohibit issuances of any addtnl debt. The restriction means expansion will finance w/equity at a cost of $8.4 million. This table shows value of the co. in each state of the economy next yr. w/ and w/out expansion: Economic growth Probability W/out expansion W/expansion Low .30 $30 million $33 million Normal .50 35 mil 46 mil High .20 51 mil 64 mil 1 yr from now how much value creation is expct'd from the expansion? How much value is expected from the stockholders? Bondholders?