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Apex Manufacturing reported a debt-to-equity ratio of 1.75 times at the end of 2023. If the firm's total debt at year-end was $8.40 million, how much equity does Apex Manufacturing have? A. $4.80 million B. $14.70 million C. $6.65 million D. $10.15 million

Apex Manufacturing reported a debt-to-equity ratio of 1.75 times at the end of 2023. If the firm's total debt at year-end was $8.40 million, how much equity does Apex Manufacturing have? A. $4.80 million B. $14.70 million C. $6.65 million D. $10.15 million

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...
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Apex Manufacturing reported a debt-to-equity ratio of 1.75 times at the end of 2023. If the firm's total debt at year-end was $8.40 million, how much equity does Apex Manufacturing have? A. $4.80 million B. $14.70 million C. $6.65 million D. $10.15 million
Transcribed Image Text:Apex Manufacturing reported a debt-to-equity ratio of 1.75 times at the end of 2023. If the firm's total debt at year-end was $8.40 million, how much equity does Apex Manufacturing have? A. $4.80 million B. $14.70 million C. $6.65 million D. $10.15 million
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