Compute what is the value of the abandonment option

Assignment Help Financial Accounting
Reference no: EM132645115

Utah Enterprises is considering buying a vacant lot that sells for $1.2 million. If the property is purchased, the company's plan is to spend another $5m today to build a hotel on the property. The after-tax cash flows from the hotel will depend critically upon whether the country imposes a tourism tax in this year's budget. If the tax is imposed, the hotel is expected to produce after-tax inflows of $600 000 at the end of each of the next 15 years. If the tax is not imposed, the hotel is expected to produce after-tax cash inflows of $1 200 000 at the end of each of the next 15 years. The tourism sector has been lobbying vigorously against the tax, and projections are that there is a 70% probability that it will not be imposed.

The project has a 12% cost of capital.

While the company does not have the option to delay construction, it does have to option to abandon the project 1 year from now if the tax is imposed. If it abandons the project, it would sell the complete property 1 year from now at a price of $6 million.

Question 1: What is the value of the abandonment option?

Reference no: EM132645115

Questions Cloud

What is dilution : What is 'Dilution' and how might such a thing impact EPS?
What project expected npv if growth option incorporated : Let us assume there is no option to delay or abandon the project. What is the project's expected NPV if the growth option is incorporated
What is the minimum annual premium : Assume r=.02 (annual compounding), and that one year probabilities of death at age 70, 71 and 72 are 0.024, 0.026, 0.028. What is the minimum annual premium?
What is the risk of calls versus shares : You are bullish on Amazon and want to compare 3-month strategies of buying stock to buying call options.
Compute what is the value of the abandonment option : If the property is purchased, the company's plan is to spend another $5m today. What is the value of the abandonment option?
Calculate the costs derived from daily maintenance : We are a graphic arts company, and at the beginning of 2016, we acquired a new printer. Calculate the costs derived from daily maintenance
Find new equilibrium expected return on sarah portfolio : Sarah owns a portfolio of stocks that have a market value of Rs. 50,000, and an estimated CAPM beta of 0.90.
What is the projects expected npv : What is the projects expected NPV? The tourism sector has been lobbying vigorously against the tax, and projections are that there is a 70% probability
How does highlight shortcomings of traditional npv analysis : While the company does not have the option to delay construction, How does highlight shortcomings of traditional NPV analysis?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd