Question: Using the following information, calculate N 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 Ne:

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 6.27% or stock at $120 per share.

Existing securities:

Security Amount Rate or Dividend
Bonds $482m 4.46%.
Stock 669m $0.6 per share

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