A firm has $50 million in assets and its optimal capital structure is 60% equity. If the firm has $12 million in retained earnings available to invest, at what asset level will the firm need to issue additional stock

The firm can increase assets by $20 million.

Explanation:

We can calculate at what asset level will the firm need to issue additional stock by calculating the difference between the current asset level and the new asset level.

Total equity = ($50 million) x 60% + $12 million

Total equity = $42 million.

This $42 million will be 60% = 0.60

Total asset  will be 100% = $42 / 0.60

Total asset = $70 million.

Difference = $70 million - $50 million

Difference = $20 million

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