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Steward INC latest eps was $3.50 and it’s book value per share was $22.75, it had...

Steward INC latest eps was $3.50 and it’s book value per share was $22.75, it had 215,000 shares outstanding, and its debt-to-asset ratio was 46%. How much debt was outstanding ?
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Answer #1

Book Value = Book Value Per Shares * Number of Shares = 22.75*215,000 = 4,891,250

DEBT to Asset Ratio = DEBT/(Debt + Equity ) = 46%
Debt/(Debt + 4891250) = 46%
Debt = 46%*Debt + 4891250*46%
Debt outstanding= 4,166,620.37

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