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In a bankruptcy liquidation, $80 million is recovered in court-ordered asset sales. The company has...

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Accounting

In a bankruptcy liquidation, $80 million is recovered in court-ordered asset sales. The company has $60 million of outstanding debt, $3 million of accumulated unpaid interest, $4 million of accrued employee wages, $2 million of preferred stock, $7 million of accounts payable and 2 million shares of common stock outstanding. How much is each share worth?

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