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

Using the following information, calculate Ie:

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

The firm needs to raise $23m which it can do with debt at 6.19% or stock at $129 per share.

Existing securities:

Security Amount Rate or Dividend
Bonds $439m 5.84%.
Stock 697m $0.53 per share

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