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Ward Corp. is expected to have an EBIT of $2,100,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $169,000, $93,000, and $119,000, respectively. All are expected to grow at 18 percent per year for four years. The company currently has $15,000,000 in debt and 840,000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 2.5 percent indefinitely. The company’s WACC is 8.4 percent and the tax rate is 40 percent. What is the price per share of the company's stock? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
This is your last semester of school and it is time to start considering you student loan balance. You have borrowed $44,000 with a stated annual rate of 6% for 10 years (monthly payments). Your monthly payments will be? N=? ; i/y=?; PV=?; PMT=? FV=?..
The reason that addition step was done before final division step because the addition operation was contained within the parentheses which needs to be solved before any step.
To help finance a major expansion, Castro Chemical Company sold a noncallable bond several years ago that now has 20 years to maturity. This bond has a 9.25% annual coupon, paid semi annually, sells at a price of $1,075, and has a par value of $1,000..
JJ Industries will pay a regular dividend of $2.90 per share for each of the next four years. At the end of four years, the company will also pay out a liquidating dividend. If the discount rate is 12 percent, and the current share price is $65, what..
Consider a four-year project with the following information: initial fixed asset investment = $450,000; straight-line depreciation to zero over the four-year life; zero salvage value; price = $26; variable costs = $16; fixed costs = $140,000; quantit..
A life insurance company purchases 1 billion of corporate bonds from premiums collected on its life insurance policies. therefore
A hypothetical stock is expected to pay a dividend of $12 per share in two months, in six months and in ten months. The stock price is $600, and the risk-free rate of interest is 0.55% per annum with continuous compounding for all maturities.
Which of the following are included in the terminal cash flow? Recapture of any working capital increase included in the initial outlay The Expected salvage value of the asset any tax payments or receipts associated with the salvage value of the asse..
A firm has a market value equal to its book value. Currently, the firm has excess cash of $700 and other assets of $7,000. Equity is worth $7,700. The firm has 550 shares of stock outstanding and net income of $900. What will the new earnings per sha..
Fiat has introduced a new car in the United States called the 500. Assume that your boss has the responsibility to forecast the sales of the 500 in the United States for the year 2012. He believes that Fiat will sell 85,000 of the 500s for 2012. Supp..
To look at the firm's dividend policy, you look at RAD's financial statements for the last year. RAD, in 2013, had net income of $118 million (operating income $1,132 million), capital expenditures of $315.846 million, depreciation and amortization o..
Employ an arbitrage argument to explain why an American option is always worth at least as much as: (a) a European option on the same asset with the same strike price and exercise date, and (b) its intrinsic value. For both parts (a) and (b) clearly ..
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