All current debt, including last year's emergency loan, is due January 1.
The bank will re-lend up to 75% of receivables plus 15% of last year's labor and material, plus 20%.
Bonds: up to 80% of plant (net of depreciation) minus the bonds you already have, at the bank rate + 1.4%.
Stock: up to 20% more shares at today's price, less a 5% fee.
If cash still falls short, Big Al covers the gap with an emergency loan at the bank rate + 7.5%. It joins next year's current debt.
Max Invest (what you may spend on plant) = 80% of net plant − long-term debt + 20% of shares × share price + cash.
Bond 12.5S2030 ($13.9M) comes due December 31, 2030 and becomes current debt.
Simplifications and how the model was checked
Bank rate = 8% prime + up to 6% as debt/assets rises; existing bonds average 12.9%; taxes 35% (credited on losses, as in the Courier); receivable and payable days and share price held at Round 2 levels. Emergency-loan cost is shown before tax; "after tax" applies the 35% rate. The model does not count the knock-on effect of a larger debt load on next year's interest rate, so the true cost is somewhat higher.
Checked against Andrews' Round 3 Capsim screens: Max Investments $12,408K (= 0.8 × $114,623K − $79,750K + 0.2 × 2,297K shares × $1.00); Borrow limit $48.6M (model $48.6M); bond limit $11.9M (model $11.9M); current-debt rate 12.9% (model 13.0%); bonds 14.3%.