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Chapter 17 Problem 17 (4).doc
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[QUESTION] [Problem 17.4] Gioanni Chantel Truffles, Inc., has $1 million in earnings before interest and taxes. Currently it is all-equity-financed. It may issue $3 million in perpetual debt at 15 percent interest in order to repurchase stock, thereby recapitalizing the corporation. There are no pe...
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