Person J was an employee of a Pizza company N. The GM of N harassed J sexually and racially. J complained this to the shift leader and assistant manager, but they didn’t report it because they were sub-ordinate to the GM. Then, J complained to the employer who had authority over GM which resulted in the termination of GM within four days. J filed a suit to impose liability on the employer for the conduct of GM. To find: The best defense available to N.

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I am trying to find the accurate solution to this financial accounting problem with the correct explanation.

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Chapter 21, Problem 7BCP

Summary Introduction

Case summary: Person J was an employee of a Pizza company N. The GM of N harassed J sexually and racially. J complained this to the shift leader and assistant manager, but they didn’t report it because they were sub-ordinate to the GM. Then, J complained to the employer who had authority over GM which resulted in the termination of GM within four days. J filed a suit to impose liability on the employer for the conduct of GM.

To find:The best defense available to N.

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KD Industries has 30 million shares outstanding with a market price of $20 per share and no debt. KD has had consistently stable earnings and pays a 35% tax rate. Management plans to borrow $200 million on a permanent basis through a leveraged recapitalization in which they would use the borrowed funds to repurchase outstanding shares. The present value of KD's interest tax shield is closest to a. $130 million b. $200 million c. $400 million d. $70 million