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Hello John, In the solution I do not understand how they arrived at:
1) the values for maximum debt using 30% of long term debt (what exactly did they use as long term debt?..I’m working it backwards but not seeing the 100% figure anywhere)
2) how did they arrive at “or 3/7 of equity”
Please assist.
Correction : The solution is in Chapter 1 . Section 2.3.5, Example: Financial Targets
I am sorry, but I do not work for BPP and I do not have their Study Kit.
(Are you watching my free lectures on here? They cover everything that is needed for the exam 🙂 )
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