Max industries is planning to invest in a number of projects during the next fiscal year. Given the substantial capital investment, the board of directors has assigned you with finding the break points in their capital structure so that in the future they calculate properly the cost of capital. The firm can borrow up to $45,741,438 in new debt before the interest rate increases; the firm can then borrow any amount at the higher rate. Taxes are 21.6% and total equity is 49% of the target capital structure. The firm does not use any preferred equity. In addition, there will be $20,873,358 in retained earnings available at the end of this fiscal year. Calculate the break point in the MCC schedule for Debt. Enter your answer in the box below, to the nearest penny 
Other questions asked by students
Statistics
Advance Math
Q
On January 1,2024, Sledge had common stock of $270,000 and retained earnings of $410,000. During...
Accounting
Accounting