Use the Following Information to Answer the Question(s)below

question 83

Multiple Choice

Use the following information to answer the question(s) below.
d'Anconia Copper is an all-equity firm with 60 million shares outstanding,which are currently trading at $20 per share.Last month,d'Anconia announced that it will change its capital structure by issuing $300 million in debt.The $200 million raised by this issue,plus another $200 million in cash that d'Anconia already has,will be used to repurchase existing shares of stock.Assume that capital markets are perfect.
-The market capitalization of d'Anconia Copper before this transaction takes place is closest to:

• A)$800 million.
• B)$900 million.
• C)$1100 million.
• D)$1200 million.

---

Definitions:

'\0'

A null character used in C and some other programming languages to denote the end of a string.

Fgets()

A function in C programming used to read a string from an input stream.

Maximum Number

A concept referring to the largest possible value that can be represented within a particular type of variable or within a set of numbers.

Address

A numerical representation of a location in computer memory where data can be stored or retrieved.