Fundamentals of Corporate Finance Phần 6 doc

... Dollars Year: 0 1 2 3 PV at 6% Machine D 15 4 4 4 25 .69 Equivalent annual cost 9 .61 9 .61 9 .61 25 .69 How did we know that an annual charge of $9 ,61 0 has a present value of $25 ,69 0? The annual charge ... volatility, 19 26 1998. Annualized standard deviation of monthly returns, percent ’ 26 ’30 ’34 0.00 10.00 20.00 30.00 40.00 50.00 60 .00 70.00 ’38 ’42 ’ 46 ’50 ’54 ’58 Yea...

Ngày tải lên: 05/08/2014, 13:20

... days 3,518/ 365 This is a reduction of 22.8 days from the original value of 48.7 days. Days in receivables = 300 = 27 .6 days 3, 968 / 365 This is a reduction of 16. 2 days from the original value of 43.8 ... Theoretic Approach,” Quarterly Jour- nal of Economics 66 (November 1952), pp. 545–5 56. 2 06 SECTION TWO The total collection time is the sum of these three sources of...

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... Equity Assets = value of Geothermal’s $64 7 Debt $194 (30%) existing business Equity $453 (70%) Total value $64 7 Value $64 7 (100%) There are actually two costs of debt finance. The explicit cost of debt is ... profits will increase by .01 × (sales – variable costs) = .01 × (profits + fixed costs). Now recall the definition of DOL: DOL = percentage change in profits = change in prof...

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... cost of leasing instead of buying. Lease versus Buy Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Aftertax Ϫ$1 ,65 0 Ϫ$1 ,65 0 Ϫ$1 ,65 0 Ϫ$1 ,65 0 Ϫ$1 ,65 0 lease payment Lost Ϫ$0 ,68 0 Ϫ$0 ,68 0 Ϫ$0 ,68 0 Ϫ$0 ,68 0 ... 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...

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... Rule 363 Capital Rationing 365 Soft Rationing 365 Hard Rationing 366 Pitfalls of the Profitability Index 366 7 Summary 367 Related Web Links 368 Key Terms 368 Quiz 368 Practice Problems 369 Challenge ... Web Links 61 8 Key Terms 61 8 Quiz 61 8 Practice Problems 61 9 Challenge Problem 62 1 Solutions to Self-Test Questions 62 1 Minicase 62 3 Glossary 63 5 SECTION 6 565 APP...

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... 3.2 46 3.278 3.310 4 4.310 4.375 4.440 4.5 06 4.573 4 .64 1 5 5.5 26 5 .63 7 5.751 5. 867 5.985 6. 105 10 12.578 13.181 13.8 16 14.487 15.193 15.937 20 33. 066 36. 7 86 40.995 45. 762 51. 160 57.275 30 66 .439 ... year 1 6% 1. 06 6.0000% Semiannually 2 3 1.03 2 = 1. 060 9 6. 0900 Quarterly 4 1.5 1.015 4 = 1. 061 364 6. 1 364 Monthly 12 .5 1.005 12 = 1. 061 678 6. 167 8 Weekly 52...

Ngày tải lên: 05/08/2014, 13:20

... 312 2 56 243 212 1 56 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 0.25 Current assets 66 9 469 491 435 392 423 Net ... General Electric 4.3 1 96 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 5.2 90 42.7 4.8 24. PepsiCo 3.2 41 11 .6...

Ngày tải lên: 05/08/2014, 13:20

... 45 2098 352 68 1 5488 11097 394 297 35998 4 568 76 3050 163 7 58 1 46 4250 219 99 92 866 320 32 566 4 968 129 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...

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... 250.00 7. Income (5 – 6) 65 0.00 566 .00 478 .64 387.79 293.30 8. Tax at 35% 227.50 198.10 167 .52 135.72 102 .65 9. Net income (7 – 8) $422.50 $ 367 .90 $311.12 $252. 06 $190 .64 Notes: 1. Yards sold ... 3,000.00 3,000.00 3,000.00 4. Cost of goods sold 2,100.00 2,184.00 2,271. 36 2, 362 .21 2,4 56. 70 5. Operating cash flow (3 – 4) 900.00 8 16. 00 728 .64 63 7.79 543.30 6. Deprecia...

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... 74.528 80.4 96 86. 949 93.9 26 101. 465 109 .61 2 118.411 127.913 15 51 .66 0 56. 110 60 . 965 66 . 261 72.035 78.330 85.192 92 .66 9 100.815 109 .68 7 119.347 129. 861 141.303 153.750 167 .2 86 16 60.925 66 .64 9 72.939 ... 10 .66 11 .64 12.71 13. 86 15.11 16. 46 17.92 12 5.9 36 6.580 7.288 8. 064 8.9 16 9.850 10.87 11.99 13.21 14.55 16. 01 17 .61 19.34 21.24 23.30 13 6. 8 86 7...

Ngày tải lên: 05/08/2014, 13:20