Assignment: Ch 16 & 17 End of Chapter Problems Assignment Score: 71.42 Save Submit Assignment for Grading Questions Problem 16-05 (Stock Price after Recapitalization) Question 1 of 7 1. o Check My Work (1 remaining 2 1 4. 5 0 ebook Stock Price after Recapitalization Lee Manufacturing's value of operations is equal to $900 million after a recapitalization (The firm had no debt before the recap.) Les raised $300 million in new odebt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, wa - 1/3. The firm had 3 million shares before the recap. What is P (the stock price after the recap)? Do not round intermediate calculationos. Round your answer to the nearest cent. 6. 7. $ 35,53 3 Hide Feedback Incorrect Check My Work (1 remaining) Olon Ky Problem 16-05 (Stock Price after Recapitalization) Question 1 of 7 Save Submit Assignment for Grading