This is my third attempt asking the same question on my homework….please don’t answer me with answers in millions only dollars.
Suppose a companies equity is currently selling for $43 per share, with 3.8 million shares outstanding. The firm also has 9000 bonds outstanding which are selling at 93% of par. So assume this company was considering an active change to its capital structure so as to have a D/E of .3.
How much would it have to sell? Enter your answer in DOLLARS not in millions. Do not round intermediate calculations and round your final answer to two decimal places.