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 million shares of stock before the recap, how many shares does it have after the recap?
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 million shares of stock before the recap, how many shares does it have after the recap?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 million
shares of stock before
the recap, how many
shares does it have after
the recap?
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