Fundamentals of Corporate Finance Phần 4 docx

... National Bromide for the first 4 months of 2001 (figures in thousands of dollars): Month: 1 2 3 4 Cash sales 15 24 18 14 Sales on credit 100 120 90 70 On average, 50 percent of credit sales are paid ... price = ( 1 + 5 ) 365/50 – 1 = .45 4, or 45 .4% 95 In this case the customer who does not take the discount is effectively borrowing money at an annual interest rate of 45 .4...

Ngày tải lên: 05/08/2014, 13:20

... Weighted Average 44 0 Market versus Book Weights 44 1 Taxes and the Weighted-Average Cost of Capital 44 2 What If There Are Three (or More) Sources of Financing? 44 3 Wrapping Up Geothermal 44 4 Checking ... 44 5 Measuring Capital Structure 44 6 Calculating Required Rates of Return 44 7 The Expected Return on Bonds 44 8 The Expected Return on Common Stock 44 8 The Expected Re...

Ngày tải lên: 05/08/2014, 13:20

... 3.153 3.1 84 3.215 3. 246 3.278 3.310 4 4.310 4. 375 4. 440 4. 506 4. 573 4. 641 5 5.526 5.637 5.751 5.867 5.985 6.105 10 12.578 13.181 13.816 14. 487 15.193 15.937 20 33.066 36.786 40 .995 45 .762 51.160 ... 45 .762 51.160 57.275 30 66 .43 9 79.058 94. 461 113.283 136.308 1 64. 4 94 0 49 48••• 43 21 • $500,000 Level savings (cash inflows) in years 1–50 result in a future accumu...

Ngày tải lên: 05/08/2014, 13:20

... 3,351 3,3 14 2, 845 2,796 2 ,49 3 2,160 EBIT –9 312 256 243 212 156 Interest 37 63 65 58 48 46 Taxes 3 60 46 43 39 34 Net profit 49 189 145 142 125 76 Earnings per share –0.15 0.55 0 .44 0 .42 0.37 ... of dollars) Assets, % (billions of dollars) 1. General Electric 4. 3 196 17.3 1.9 2. Coca-Cola 15 .4 158 36.3 2.6 3. Microsoft 17.6 144 52.9 2.8 4. Merck 5.6 107 23.2 1.9 5. Intel...

Ngày tải lên: 05/08/2014, 13:20

... 45 2098 352 681 548 8 11097 3 94 297 35998 45 68 76 3050 1637 58 146 42 50 219 99 92866 320 32566 49 68 129 12 1 /2 36 9 /16 26 15 /16 29 1 /4 5 15 /16 18 7 /16 5 1 /16 3 9 /16 34 3 /8 69 7 /8 4 13 /16 27 7 1 /8 14 1 /16 32 1 /16 16 3 /4 11 /16 47 1 /8 33 5 /16 4 5 /16 48 7 /8 51 9 /16 20 3 /16 12 7 /16 34 1 /16 26 1 /2 28 1 /8 5 1 /2 17 4 3 /4 3 5 /16 33 3 /16...

Ngày tải lên: 05/08/2014, 13:20

... return, percent Ϫ25 Ϫ30 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 Ϫ20 Ϫ15 Ϫ10 Ϫ5 0 5 10 15 20 25 30 Ϫ25 Ϫ30 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 Ϫ20 Ϫ15 Ϫ10 Ϫ5 0 5 10 15 20 25 30 Ϫ25 Ϫ30 1 ... flow of C 1 = $40 0,000 in 1 year. Therefore, you forecasted a profit on the venture of $40 0,000 – $350,000 = $50,000, and a rate of return of...

Ngày tải lên: 05/08/2014, 13:20

... 1,167 1, 042 2 4, 445 1,556 1, 240 3 1 ,48 1 518 369 4 741 259 165 Totals 10,000 3,500 2,816 The present value increases to 2,816, or $2,816,000. arlier we began to come to grips with the topic of risk. ... 2,1 84. 00 2,271.36 2,362.21 2 ,45 6.70 5. Operating cash flow (3 – 4) 900.00 816.00 728. 64 637.79 543 .30 6. Depreciation 250.00 250.00 250.00 250.00 250.00 7. Income (5 – 6) 65...

Ngày tải lên: 05/08/2014, 13:20

... 2,000,000 4. Depreciation 45 0,000 45 0,000 5. Pretax profit (1 – 2 – 3 – 4) 550,000 –2,000 6. Taxes (40 %) 220,000 –800 7. Profit after tax 330,000 –1,200 8. Cash flow from operations (4 + 7) 780,000 44 8,800 Present ... Equity Assets = value of Geothermal’s $ 647 Debt $1 94 (30%) existing business Equity $45 3 (70%) Total value $ 647 Value $ 647 (100%) There are actually two costs...

Ngày tải lên: 05/08/2014, 13:20

... operates a chain of 140 fast-food outlets in the United States offering unusual combinations of dishes. The Offering: Common Stock offered by the Company 500,000 shares; Common Stock offered by the ... first 3 years of trading have been less than a con- trol sample of matching firms. See J. R. Ritter, “The Long-Run Performance of Initial Public Offerings,” Journal of Finance 46...

Ngày tải lên: 05/08/2014, 13:20

... . 540 .502 .46 7 .43 4 .40 4 .376 .351 .327 9 .9 14 .837 .766 .703 . 645 .592 . 544 .500 .46 0 .42 4 .391 .361 .333 .308 .2 84 10 .905 .820 . 744 .676 .6 14 .558 .508 .46 3 .42 2 .386 .352 .322 .295 .270 . 247 11 ... 32.8 24 34. 931 37.180 39.581 42 . 142 44 .8 74 47.788 50.895 54. 208 57.739 61.501 65.510 69.780 74. 327 13 36.786 39 .40 4 42 .219 45 . 244 48 .49 7 51.991 55. 746 5...

Ngày tải lên: 05/08/2014, 13:20