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Lee Manufacturing's value of operations is equal to $900million after a recapitalization

Finance

Lee Manufacturing's value of operations is equal to $900million after a recapitalization. (The firm had no debt before the recap.) Lee raised $300million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, wd?=1/3.The firm had 30 million shares before the recap. What is P (the stock price after the recap)?

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