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The Lory Bookstore Used Internal Financing as a Source of Long-Term

Question 6

Multiple Choice

The Lory Bookstore used internal financing as a source of long-term financing for 80% of its total needs in 2011. The company borrowed an additional 27% of its total needs in the long-term debt markets in 2011. What were Lory's net new stock issues in that year?


A) -20%
B) -7%
C) 7%
D) 20%
E) 27%

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