Role of Community Radio What is Community Radio? The expression Community Radio has been defined in different ways. It has been called a local radio‚ people’s radio‚ democratic radio‚ and so on. Community radio is a form of local radio which defines itself as an autonomous entity – and relies on the community for its survival without any commercial aims or objects. Community radio is confined to a small geographical area. It depends on low power transmission covering not more
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by doing FCF analysis. Create a ten year pro-forma spreadsheet‚ projecting out barrels of beer each year‚ revenue per barrel‚ revenue‚ costs‚ taxes‚ etc. Calculate net income‚ then subtract out net investments and add back depreciation to obtain FCF each year. Don’t forget to calculate terminal value at the end of 10 years. Use a 4% growth rate after year 10. Calculate the cost of equity and then discount the free cash flows by this discount rate. Calculate the Present Value of these FCFs plus the
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VALUATION TECHNIQUES Vault Guide to Finance Interviews Valuation Techniques How Much is it Worth? Imagine yourself as the CEO of a publicly traded company that makes widgets. You’ve had a highly successful business so far and want to sell the company to anyone interested in buying it. How do you know how much to sell it for? Likewise‚ consider the Bank of America acquisition of Fleet. How did B of A decide how much it should pay to buy Fleet? For starters‚ you should understand that the value
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The Merger of HP and Compaq: Strategy. When a major merger is announced‚ like the one between HP and Compaq‚ investors try to understand where the stock value is going to come from and whether the companies have a plan to achieve that value. Deals are often brought to market with one big synergy number and a statement that the deal will be accretive to earnings. Many acquisitions and some large strategic investments are often justified with the argument that they will create synergy. In this paper
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had a payback period of exactly one year since both the FCF and required initial investment were $10‚000‚000. Project B‚’s payback period was 1.33 years‚ since it recovers part of the investment in the first year and the rest in the following year. Project C recovered its investment after the second year‚ specifically providing a payback period of 2.1 years. Finally project D’s investment was recovered in the first year given the first year FCF of $10‚000‚200‚ making the payback period equal would
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Projection: Based on all the given information and assumptions‚ the free cash flow projection for the company could be calculated as the table shown below (Exhibit 1‚ in thousands of $). The formula used for the calculation from year 2002 to 2006 is: FCF = (EBIT+Depr-Tax) + CAPX + Δ NWC. Starting at year 2007‚ the expected cash flow will be a growing perpetuity at an increasing rate of g=5%. Thus the terminal value could be calculated by the formula TV=C/(r-g). Exhibit 1 2001 2002 E 2003 E 2004 E
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A. METHODOLOGIES: 1. The Weighted Average Cost of Capital (WACC) Approach: This method offers a wide range of advantages. For instance‚ the Capital Assets Pricing Model (CAPM) is employed in the calculation of the Cost of Equity. Thus‚ the discounted rate of 7.58 percent used in figure 1.12 Appendix is likely to be precise. The total value of the firm is $4.73 billion. Nonetheless‚ in view of the probabilities of forecasting errors in the estimation of cash flows‚ the degree of precision does
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case of financial projections and assumptions for Mercury Athletic Footwear collated and developed by John Liedtke indicate that that the project to acquire Mercury Althletic has a positive net present value at $243‚025 (in thousands) [ given by PV(FCF)=86‚681+ PV (Terminal Value) =156‚343] which is also greater than the recommended acquisition price of $186‚216 (in thousands)‚therefore Active Gear Inc. should proceed with the acquisition of Mercury’s operation. Free Cash Flow The free cash flow
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some additional ideas to be added to my topic and also I would like to know when I can find new topics also I would like to add that some topics might have grammar mistakes or not? Bdhdhsjkd d dhd d d d d d d dd d d dd d dd d dd dd dd dd ddd dd ddd dd ddd dd ddd dd ddd dd ddd dd ddd d dd I like just reading and writing on a paper the best ideas I read and also I would like to know if there is more topics about my researched one because one day I might need a lot of topics to help me in my 1st draft
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16.7% Free Cash Flows of Eskimo Pie: Net Sales = 47‚198 COGS = 31‚780 Net Income = 2526 Depreciation = 1352 Capital Expenditures = 1311 Net Working Capital = 905 FCF = 2526+1352-1311-905 = 1662 Terminal Value for Eskimo Pie 1990: Value = (FCF *(1+g))/(WACC-g) FCF = 1662 G = 6.14% WACC = 16.7% Enterprise Value = 1662*1.0614/(.167-.0614) = 1764.05/ .1056 = 16‚705 + Cash = 13‚191 - Long-term Debt = 744 Equity Value
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