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Nichols had no short-term investments before or after the

Nichols Corporation's value of operations is equal to $750 million after a recapitalization (the firm had no debt before the recap). It raised $350 million in new debt and used this to buy back stock. Nichols had no short-term investments before or after the recap. After the recap, wd = 45%. What is S in millions (the value of equity after the recap)?

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Finance Basics: Nichols had no short-term investments before or after the

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