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How much would the firm have to sell

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Suppose that Lil John Industries' equity is currently selling for $37 per share and that 3.0 million shares are outstanding. The firm also has 60,000 bonds outstanding, which are selling at 102 percent of par. Assume Lil John was considering an active change to its capital structure so that the firm would have a (D/E) of 1.5.

How much would the firm have to sell? (Enter your answer in dollars not in millions. Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132679214

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