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Question: Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8. If Dye had 50 shares of stock before the recap, how many shares does it have after the recap? million

Question: Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8. If Dye had 50 shares of stock before the recap, how many shares does it have after the recap? million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question: Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8. If Dye had 50 shares of stock before the recap, how many shares does it have after the recap? million
Transcribed Image Text:Question: Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8. If Dye had 50 shares of stock before the recap, how many shares does it have after the recap? million
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