| | 8.72% | 1.4% | 10.1200% | Contract Services | | 6.9% | 1.8% | 8.700% | Debt part of WACCMAR = (1-TC)(RD)(WD) = (1-.441)(.1025)(.6) = 3.44% Cost of Equity RE = CAPM = RF + (RM – RF) Determining a risk-free rate: We always want to use duration matching;
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Advanced Investment Raphaël Le Hoang 1) DFA description and beliefs about efficient market Dimensional Investment Advisors (DFA) is a passive investment firm founded in 1981‚ headquartered in Santa Monica‚ California. The founders of the company‚ Booth and Rex Sinquefield‚ were two former students
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Google Inc is a technology company that builds and provides products and services that organise information and make it universally accessible and useful to the general public‚ and it has arguably become a need in the everyday lives of people. As something that initially started as a research project for Stanford digital library‚ the concept began in march 1996 by Larry page and Serge Brin. the goal was to develop the enabling technologies from a single‚ integrated and universal digital library
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Classification of Epithelia Lines Examples Simple squamous Surfaces involved in passive transport Alveoli Endothelium Loops of Henle Simple cuboidal epithelia Surfaces involved in secretion and absorption Some glands Ducts Collecting tubule of kidney Simple columnar epithelia Surfaces involved in high rates of secretion and absorption Protection Stomach and small intestine where it has microvilli Collecting tubule of kidney Fallopian tubes where it is ciliated Pseudostratified Usually ciliated
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ASSESSMENT IN CHILDREN & FAMILIES SOCIAL WORK Fig 1. The Assessment Triangle (Department of Health‚ Department for Education and Employment‚ Home Office‚ (2000) June 2012 Word Count: 4413 Introduction The Framework for the Assessment of Children in Need and their Families (which I will refer to as the assessment framework in this assignment) is an ecological framework that includes personal‚ intra-personal‚ inter-personal and sociological influences on development
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a. Should Caledonia focus on cash flows or accounting profits in making its capital-budgeting decisions? Should the company be interested in incremental cash flows‚ incremental profits‚ total free cash flows‚ or total profits? Caledonia should focus on cash flows‚ not accounting profits. Free cash flows are able to be reinvested‚ whereas accounting profits are shown when they are earned‚ not when the cash is actually received. The company should be interested in incremental after-tax cash flows
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Review Notes Bone Met Models of Prostate Cancer 1. Natural history of prostate cancer Prostate cancer is the most commonly diagnosed cancer in men at an estimated 24% of all new cancer cases. Even though the 5-year survival rate of localized disease is close to 100%‚ the 5-year survival rate of metastatic disease is still very low at 30%. In advanced prostate cancer‚ metastasis occurs in distant organs such as the brain‚ liver‚ lungs‚ lymph nodes‚ and bone. Particularly‚ 90% of patients with advanced
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First step in calculating WACC is to use the Capital Asset Pricing Model (CAPM) CAPM = Rf + Beta (MRP) Rf = Risk Free Rate Beta = Market figure as to how stock reacts to market fluctuations MRP = Market return rate – risk free rate Rf = 7.92% (Figured using 30-year Treasury Bond Yeild) Beta = 1.23 (Calculated using the average of all copetitors) MRP = 7.5% (Prime Rate in Exhibit 9) CAPM = 7.92% + 1.23(7.5%) = 7.92% + 9.23% = 17.15% WACC = Kd (1-t)
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Case Study of Cost of Capital at Ameritrade 1-a How can the CAPM be used to estimate the cost of capital for a real business investment decision? CAPM results can be compared to the best expected rate of return that investor can possibly earn in other investments with similar risks‚ which is the cost of capital. Under the CAPM‚ the market portfolio is a well-diversified‚ efficient portfolio representing the non-diversifiable risk in the economy. Therefore‚ investments have similar risk if they
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Fama-French findings? Do they make sense? Should we expect small stocks to outperform large stocks in the future? And‚ should we expect value stocks to outperform growth stocks? What did Fama and French discover about the CAPM and beta? How do you reconcile the empirical findings with the CAPM theory? 3. Discuss DFA’s trading strategy. How does it work‚ and what are the costs and benefits? Can DFA keep the competitive advantage in the future? Why don’t competitors emulate DFA’s approach? 4. What are DFA’s
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