Refer to the Data for the Anson Jackson Court Company

Multiple Choice

Refer to the data for the Anson Jackson Court Company (AJC) .Now assume that AJC is considering changing from its original capital structure to a new capital structure with 50% debt and 50% equity.If it makes this change, its resulting market value would be $820,000.What would be its new stock price per share?

A) $58
B) $59
C) $60
D) $61
E) $62