Question: Using the following information, calculate I d : Format your answer in millions to the hundredths place. 1 4 , 5 1 6 , 0

Using the following information, calculate Id :
Format your answer in millions to the hundredths place. 14,516,000 would be entered as 14.52
The firm needs to raise $19m which it can do with debt at 7.78% or stock at $118 per share.
Existing securities:
\table[[Security,Amount,Rate or Dividend],[Bonds,$453m,5.23%.],[Stock,670m,$1.14 per share]]
 Using the following information, calculate Id : Format your answer in

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