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You are considering an investment in Fields and Struthers, Inc., and want to evaluate the firm’s free cash flow. From the income statement, you see that Fields and Struthers earned an EBIT of $72 million, had a tax rate of 30 percent, and its depreciation expense was $8 million. Fields and Struthers’ gross fixed assets increased by $38 million from 2014 and 2015. The firm’s current assets increased by $34 million and spontaneous current liabilities increased by $19 million.
Calculate Fields and Struthers’ operating cash flow for 2015. (Enter your answer in millions of dollars rounded to 1 decimal place.)
Operating cash flow $ m
Calculate Fields and Struthers’ investment in operating capital for 2015. (Enter your answer in millions of dollars.)
Investment in operating capital $ m
Calculate Fields and Struthers’ free cash flow for 2015. (Enter your answer in millions of dollars rounded to 1 decimal place.)
Free cash flow $ m
Jackson Central has a 6-year, 8% annual coupon bond with a $1,000 par value. Earls Enterprises has a 12-yr, 8% annual coupon bond with a $1,000 par value. Both bonds currently have a yield to maturity of 6%. Which of these two bonds should you buy if..
A responsibility center in which the relationship between resources and products or services produced is not well defined is known as a(n)
Stock Y has a beta of 1.45 and an expected return of 15.1 percent. Stock Z has a beta of 0.9 and an expected return of 11.8 percent. Required: What would the risk-free rate have to be for the two stocks to be correctly priced relative to each other?
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Keys Corporation's 5-year bonds yield 6.40% and 5-year T-bonds yield 4.40%. The real risk-free rate is r* = 2.5%, the inflation premium for 5-year bonds is IP = 1.50%, the liquidity premium for Keys' bonds is LP = 0.5% versus zero for T-bonds, and th..
In the BASIC valuation model risk is generally incorporated into the___.
developing a balanced scorecard explore the need for organisations to calculate and manage performance against
You have $100,000 to invest in either Stock D, Stock F, or a risk-free asset. You must invest all of your money. Your goal is to create a portfolio that has an expected return of 12.3 percent. Assume D has an expected return of 15.8 percent, F has an..
If you have some money to invest and there are a risk-free asset and several risky assets for you to pick up, how many preferable portfolios could you construct? Can you provide some advice on how to construct an optimal portfolio for a risk-averse p..
Kim Lee is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1770 per month. Her employer deducts a total of $150 for ..
Will Corporation has two over’s, Gus and Jack who are father and son. Gus owns 100 shares which he acquired in 2005 for 15,000. Jack owns 100 shares which he acquired in 2007 for 21,000. Will Corp. accumulated E and P is identical to GAAP retained ea..
If you were to receive $1,000 each year for 10 years starting the end of 5 years, determine what this annuity is worth right now assuming 6% interest. (deferred annuity) Please show work.
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