Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 670 Building and equipment 938 Cash 40 Interest receivable 37 Inventory 21 Land 153 Notes receivable (long-term) 460 Prepaid rent 21 Supplies 12 Trademark 44 Accounts payable 587 Accumulated depreciation 62 Additional paid-in capital 476 Dividends payable 25 Common stock (at par) 18 Income tax payable 56 Notes payable (long-term) 827 Retained earnings 316 Deferred revenue 29 TOTALS 2,396 2,396 What would Symphony report as total current assets

Pennewell publishing inc. (pp) is a zero growth company. it currently has zero debt and its earnings before interest and taxes (ebit) are $80,000. pp's current cost of equity is 10%, and its tax rate is 40%. the firm has 10,000 shares of common stock outstanding selling at a price per share of $48.00. refer to the data for pennewell publishing inc. (pp). pp is considering changing its capital structure to one with 30% debt and 70% equity, based on market values. the debt would have an interest rate of 8%. the new funds would be used to repurchase stock. it is estimated that the increase in risk resulting from the added leverage would cause the required rate of return on equity to rise to 12%. if this plan were carried out, what would be pp's new value of operations? a. $484,359 b. $521,173 c. $584,653 d. $560,748 e. $487,805