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

Question 19

Multiple Choice

The Lory Bookstore used internal financing as a source of long-term financing for 85% of its total needs in 2011. The company borrowed an additional 25% 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) -10%
C) 10%
D) 20%
E) 30%

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