Maintains a constant debt-equity ratio

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Suppose Caterpillar, Inc., has 670 million shares outstanding with a share price of $75.01, and $25.51 billion in debt. If in three years. Caterpillar has 697 million shares outstanding trading for $82.13 per share, how much debt will Caterpillar have if it maintains a constant debt-equity ratio? The amount of debt required in three years will be $D billion. (Round to two decimal places.)

Reference no: EM133118882

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