Question: Using the following information, calculate I e (existing interest) : Format your answer in millions to the hundredths place. 14,516,000 would be entered as 14.52

Using the following information, calculate Ie (existing interest):

Format your answer in millions to the hundredths place. 14,516,000 would be entered as 14.52

The firm needs to raise $18m which it can do with debt at 7.14% or stock at $133 per share.

Existing securities:

Security Amount Rate or Dividend
Bonds $368m 5.15%.
Stock 639m $1.03 per share

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