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A financial statement reports assets, liabilities, and owners equity on a specific date
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- TA Co. is financed entirely by common stock that is priced to offer an 18 percent expected rate of return. The stock price is $50 and the earnings per share are $9. The company wishes to repurchase 50 percent of the stock and substitute an equal value of debt yielding 7 percent. Suppose that before refinancing, an investor owned 100 shares of TA Co. common stock. What should they do if they wish to ensure that the risk and expected return on their investment continue to mirror the portfolio of the company?
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