Fundamentals of Corporate Finance Phần 10 potx
Fundamentals of Corporate Finance Phần 10 potx
... liabilities of the target firm into those of its own company; (2) it can buy the
stock of the target; or (3) it can buy the individual assets of the target. The offer to buy the
stock of the target ... price of the foreign product.
This conclusion is often called the law of one price. Just as the price of goods in
Safeway must be roughly the same as the price of goods in A&a...
Fundamentals of Corporate Finance Phần 1 potx
... Marcus
Wallace E. Carroll School of Management
Boston College
with additional material from
Fundamentals of Corporate Finance, Alternate Fifth Edition
Essentials of Corporate Finance, Second Edition
Stephen ... material from
Fundamentals of Corporate Finance
Third Edition
Richard A. Brealey
Bank of England and London Business School
Stewart C. Myers
Sloan School of M...
Fundamentals of Corporate Finance Phần 2 ppsx
... annual payments of $10, 000 for
a period of 10 years. The first payment will be made 4 years from now. If the interest rate is
6 percent, what is the present value of this stream of payments?
35. ... limited number of years is called an annuity. The present value of a
stream of cash flows is simply the sum of the present value of each individual cash flow.
Similarly, the f...
Fundamentals of Corporate Finance Phần 3 pot
... Microsoft’s total capital in 1997 was
$7.2 billion. With a return of 53 percent, it earned profits on this figure of .53 × 7.2 =
$3.8 billion. The total cost of the capital employed by Microsoft ... cents of
tax on each dollar of income up to an income of $62,450. For example, if your total in-
come is $40,000, your tax bill is 15 percent of the first $25,750 of income and 28...
Fundamentals of Corporate Finance Phần 4 docx
... dividends 10 10 10
Capital expenditures 100 0 0
Complete the following cash budget:
February March April
Sources of cash
Collections on current sales
Collections on accounts receivable
Total sources of ... 0
Repayments
9. Of stretched payables 0 0 10. 8 0
10. Of bank loan 0 0 13.8 31.2
Increase in cash balances
11. Addition to cash balances 0 0 0 3.2
Bank loan
12. Beginning of...
Fundamentals of Corporate Finance Phần 5 ppt
... The rate of return is the coupon
rate. We can check this by setting out the cash flows on your investment:
Cash Paid to You in Year
You Pay 1 2 3 Rate of Return
$1,000 $100 $100 $1 ,100 10%
Notice ... market price of the 3-year bond is $1,136.16. Your cash flows
are as follows:
Cash Paid to You in Year
You Pay 1 2 3 Rate of Return
$1,136.16 $100 $100 $1 ,100 ?
What’s the rate of r...
Fundamentals of Corporate Finance Phần 6 doc
... bills
Rate of return, percent
Number of years
0 10 20Ϫ30Ϫ40 10 20 30 40 50
13.2 20.3
Common stocks
Rate of return, percent
Number of years
0 10 10 20
3.2 4.5
Inflation
Rate of return, percent
Number of ... Cost of Capital 321
• Head + head: You make 20 + 20 = 40%
• Head + tail: You make 20 – 10 = 10%
• Tail + head: You make 10 + 20 = 10%
• Tail + tail: You make 10 –...
Fundamentals of Corporate Finance Phần 7 pot
... percent
Ϫ26240 810 6Ϫ8 10 Ϫ4
Ϫ25
Ϫ20
Ϫ15
10
Ϫ5
0
5
10
15
20
Beta ؍ .61
Standard deviation ؍ 16%
25
(a)
Market return, percent
Polaroid return, percent
؊26240 810 6؊8 10 ؊4
؊25
؊20
؊15
10
؊5
0
5
10
15
20
25
Beta ... return,
percent
Ϫ5Ϫ20 Ϫ15 10
5 101 520
(a)
Ϫ20
10
0
10
20
Index 500 return,
percent
Market return,
percent
Ϫ5Ϫ20 Ϫ15 10
5101 520
(b)
MARKET RISK
PREMIUM
Risk premi...
Fundamentals of Corporate Finance Phần 8 doc
... profits
percentage change in sales .01
= 100 ×
change in profits
= 100 ×
.01 × (profits + fixed costs)
level of profits level of profits
=1 +
fixed costs
profits
t helps to use discounted cash-flow ... 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 profits/level...
Fundamentals of Corporate Finance Phần 9 doc
... asset.
A. Balance Sheet with Purchase
(the company finances a $100 ,000 truck with debt)
Truck $100 ,000 Debt $100 ,000
Other assets $100 ,000 Equity $100 ,000
Total assets $200,000 Total debt plus $200,000
equity
B. ... 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;...
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