The Lory Bookstore Used Internal Financing as a Source of Long-Term

question 8

Multiple Choice

The Lory Bookstore used internal financing as a source of long-term financing for 80% of its total needs in 2009.The company borrowed an additional 27% of its total needs in the long-term debt markets in 2009.What was Lory's net new share issues in that year?

• A)-20%
• B)-7%
• C)7%
• D)20%
• E)27%

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