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Prepare a memo advising the management of Hightower, Inc. on the financial impact.
Prepare a memo advising the management of Hightower, Inc. on the financial impact. Scenario: Hightower, Inc. plans to announce it will issue $2.0 million of perpetual debt and use the proceeds to repurchase common stock. The bonds will sell at par with a coupon rate of 5%. Hightower, Inc. is currently an all-equity company worth $7.5 million … Read more

