Kemper Company'sbalance sheet and income statement are shown below (in millions of dollars).?? The company and its creditors have agreed upon a voluntary reorganization plan.? In this plan, each share of the $5 preferred? will be exchanged for one share of $1.00 preferred with a par value of $25 plus one 9% subordinated? income debenture with a par value of $75.? The $9 preferred issue will be retired with cash.? The company's tax rate is 30 percent.
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