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

question 21

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.
-At the conclusion of this transaction,the number of shares that d'Anconia Copper will have outstanding is closest to:

• A)5 million.
• B)15 million.
• C)20 million.
• D)40 million.

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Definitions:

Manifest Content

The actual literal content and storyline of a dream as remembered by the dreamer, according to Freudian dream analysis.

Latent Content

In psychoanalytic theory, the hidden psychological meaning of dreams, as opposed to the manifest content, which is the literal storyline.

Synthesized Content

Content that has been artificially generated, often using digital technologies, to create a new piece of media.

Physical Strength

The extent of a person's bodily power or the ability to exert force on physical objects.