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QUESTION
For the year ending June 30, 2008, the New Corportation has current assets of $275,000 and total assets of $900,000.
For the year ending June 30, 2008, the New Corportation has current assets of $275,000 and total assets of $900,000. It also has current liabilities of $100,000, equity of $200,000 and retained earnings of $300,000. The marginal tax rate for the firm is 30%. How much long-term debt does the firm have?
