Nucor Corp. manufactures generator coolers for nuclear and gas turbine power plants. The company completed a plant expansion through financing that had a debt/equity mix of 40%–60%. If $15 million came from mortgages and bond sales, what was the total amount of the financing?
What will be an ideal response?
Debt portion of $15 million represents 40% of the total
Total amount of financing = 15,000,000/0.40 = $37,500,000
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