The keys to the company’s future value and growth are profitability (ROE) and the reinvestment of retained earnings. Retained earnings are determined by dividend payout. The spreadsheet sets ROE at 15% for the five years from 2006 to 2010. If Reeby Sports will lose its competitive edge by 2011‚ then it cannot continue earning more than its 10% cost of capital. Therefore ROE is reduced to 10% starting in 2011. The payout ratio is set at .30 from 2006 onwards. Notice that the long-term growth rate
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What is the weighted average cost of capital (WACC) for Marriott Corporation? WACC = (1 - τ)rD(D/V) + rE(E/V) D = market value of debt E = market value of equity V = value of the firm = D + E rD = pretax cost of debt rE = after tax cost of debt τ = tax rate = 175.9/398.9 = 44% Cost of Equity Target debt ratio is 60%; actual is 41% [Exhibit 1] βs = 1.11 βu = βs / (1 + (1 – τ) D/E) = 1.11/(1 + (1 – .44) (.41)) = 0.80 Using the target debt ratio of 60%: βTs = βu (1 + (1 – τ) D/E)
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and printmaking at GVSU. In other words‚ I’m approaching Warhol’s work very much as a studio artist. As a printmaker in particular‚ I’m predisposed to note the large degree (great extent?) to which the innate characteristics of the medium – in this case screen-printing - enable and inform the meaning of Warhol’s work. At the outset of each printmaking course I teach at Grand Valley‚ I provide students a brief overview of the social history of the print; I divulge its rich heritage in the service of
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I attended the University Symphony Orchestra’s "An Evening of Handel‚ Schubert‚ and Haydn" on Thursday‚ September 30‚ 2003 in the Daniel Recital Hall. The hall was much more crowded than I expected. At the beginning of the concert‚ the orchestra was seated on the stage; the men wore tuxedos‚ and the women wore black dresses or pants. The concertmaster came out to tune the orchestra‚ and then the conductor made his entrance and gave a brief description of the piece that was about to be played. George
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Bebop Called also bop‚ bebop is a style of jazz with its characteristics being fast tempo‚ instrumental virtuosity and improvisation founded on the mixture of harmonic structure and melody. Its origins began in the early and mid-1940’s‚ where it became synonymous with modern jazz‚ as the two of them came to a certain maturity point in the 1960’s. Its roots were from New York City. The creation of bebop began by the interest of jazz performers to create a new genre where it counters the popular swing
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concentration. I can also see that the glucose solution of 0.8M has a much lower water concentration then the cell sap in the potato tissue. I know this because the potato in the 0.8M solution decreased in weight by 0.5g. This means that due to Osmosis‚ water moved from inside the potato i.e. the higher concentration of water‚ to outside the potato i.e. the lower concentration of water. From the graph I can see that both the 0.2M and 0.4M solutions are close to the concentration of the cell
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Essay and e-mail - Reunion A. An essay analyzing the short story This essay is going to be an analysis and interpretation of the short story ‘’Reunion’’ by John Cheever. It will begin with a summary of the short story. Afterwards the plot‚ the conflict and the setting will be analyzed. Then I’ll move on to the characterization‚ the possible surprise ending and the theme and message. Finally I will draw parallels between the short story ‘’Reunion’’ and the essay ‘’Living With Strangers’’ by Siri
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For the second time in my life I attended another jazz concert. On Wednesday‚ November 30‚ 2016 I went to the Morgy Craig Annual Memorial Jazz Scholarship Award Concert and it was put on by the Ball State Jazz Ensembles. The setting of the concert was at Sursa Hall‚ which sits on the corner of Riverside and McKinley Avenues‚ and is a beautiful concert hall that is brick on the outside and on the inside has wood paneling. The concert I found to be very incredible overall and twice as better as the
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New York City was the cultural center of the U.S. and was the jazz center as well. Most of the city’s black jazz musicians lived in Harlem‚ which had been the creative focal point of African American culture since the Harlem Renaissance. During its formative period‚ bebop’s roots in Harlem helped to preserve its connections to the African-American jazz community. That neighborhood provided an ideal environment for this musical experimentation‚ as these musicians often played together at musicians’
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a better understanding of jazz as not only an art form‚ but as a culture. The audience was the first thing I noticed when entering the venue. Most of the attendees were middle-aged and Caucasian. They were dressed in casual but nice clothing. It was not a formal event but no one was wearing tennis shoes are gym clothes. I also noticed that alcohol was being served with light refreshments. This contributed to the relaxed and casual environment that I expected of a jazz concert. I also spoke with
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