The current price of a company stock is $20. - 94996

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The current price of a company stock is $20. The company is a takeover target. If the takeover is successful, the company's stock price will increase to $30. If the takeover is unsuccessful, the stock price will drop to $12. Determine the range of values for the probability of a successful takeover that would make it worthwhile to purchase the stock today. Assume your goal is to maximize your expected profit. Hint: Use the Goal Seek command.
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