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Sonic Briefs had a free cash flow for FY 2019 of $3,250 (all amounts are in $000). Foggy Anderson, CEO, has developed a long-term annual free cash flow projection - a copy of which has been reproduced in the table below.
FY2020-FY2024
FY2025-FY2027
FY2028 to perpetuity
Growth rate
4%
2.5%
1%
Cost of Capital
5.25%
6.20%
4.75%
For this question consider FY2020 as Year 1 and FY2024 as Year 5, and FY2027 as year 8. (NOTE THAT EXCEL WAS USED TO CALCULATE THE ANSWER TO THIS PROBLEM)
Group of answer choices
[A] $24,239 m
[B] $77,703 m
[C] $98,375 m
[D] $75,138 m
[E] $109,781 m
Question 2: In FY2018, $800 in accounting income (revenues - expenses) was produced form a $10,000 capital investment. If the cost of capital for the firm is 6% then the economic profits produced by this investment were:
[A] $800
[B] $700
[C] $600
[D] $400
[E] $200
[F] $100
[G] No economic profits were produced.
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