Polluter Corp. (the “Company”)‚ an SEC registrant‚ operates three manufacturing facilities in the United States. The Company manufactures various household cleaning products at each facility‚ which are sold to retail customers. The U.S. government granted the Company emission allowances (“EAs”) of varying vintage years (i.e.‚ the years in which the allowance may be used) to be used between 2010 and 2030. Upon receipt of the EAs‚ the Company recorded the EAs as intangible assets with a cost basis
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CAPV. Our conclusions from doing the above exercise are the following: • • • • • • We believe that WHC’s revenue can grow at a rate in the range of 8%-10% Based on the steady cash flows of infrastructure businesses and the relatively low country risk of Hong Kong (embedded on the unlevered beta and the risk free rate respectively) we assume a discount rate of 9%-10% We believe that the capital structure post acquisition could easily support 68% debt to assets ratio (conservative based on DSCR
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Cemex Key points summary | |Cemex was originally founded in 1906 as Cementos Hidalgo and became Cemex (Cementos Mexicanos) after a merger | |Case Summary |with Cementos Portland Monterrey in 1931. Throughout the 1960’s‚ 70’s‚ and 80’s‚ Cemex expanded throughout | | |Mexico to gain a 65% share of the domestic market by the end of the 1980’s. Under the leadership of CEO Lorenzo | |
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000 4‚000‚000 3‚000‚000 200‚000 2‚000‚000 3‚000‚000 (200‚000) 10‚000‚000 7‚500‚000 500‚000 3‚500‚000 3‚000‚000 2‚500‚000 10‚000‚000 7‚500‚000 500‚000 3‚500‚000 3‚000‚000 2‚500‚000 Tax Expense (-) NOPAT Depreciation (+) NWC Investment Free cash flows 11% $820‚733.69 (80‚000) (120‚000) 3‚000‚000 (400‚000) (2‚000‚000) 480‚000 1‚000‚000 1‚500‚000 3‚000‚000 (600‚000) 3‚900‚000 1‚000‚000 1‚500‚000 3‚000‚000 (16‚000‚000) (16‚000‚000) 4500000 Should use WACC Cost of Capital As
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Interco | | | | | | | | Formerly a footwear manufacturing company‚ Interco developed into a diversified company that comprised subsidiary corporations in four major business areas: apparel manufacturing‚ general retail merchandising‚ footwear manufacturing and retailing‚ and furniture and home furnishings. Due to the fact that Interco ’s subsidiaries operated as autonomous units and lacked integration between its operating divisions‚ the company is particularly vulnerable
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at 15 Answer all questions All questions worth 2 marks Show your working 1. Suppose you own 100 shares of Company A’s stock which you intend to sell today. Since you will sell it in the secondary market‚ Company A will receive no direct cash flows as a consequence of your sale. Why‚ then‚ should Company A’s management care about the price you get for your shares? 2. Discuss the differences in the interests of shareholders and managers. How to align the interests of shareholders and managers
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The Paul Merage School of Business at UC Irvine | Financial Statement Analysis & Reporting: Earnings Quality and Asset Analysis | Company - WALMART | Kian BolooriHee Jun ChungDaejune Min | 1. Qualitative Analysis for the environment and the company (1) INDUSTRY ANALYSIS Walmart is in the discount retailer industry. This industry started in the 1950s‚ grew in the 1960s‚ and matured in the 1970s. With exception to a moderate growth period in the 1990s‚ the industry had remained
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may have one of four values next year: $150 million‚ $135 million‚ $95 million‚ and $80 million. These outcomes are all equally likely‚ and this risk is diversifiable. Gladstone will not make any payouts to investors during the year. Suppose the risk-free interest rate is 5% and assume perfect capital markets. a. What is the initial value of Gladstone’s equity without leverage? Now suppose Gladstone has zero-coupon debt with a $100 million face value due next year. b. What is the initial value of
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International Projects - Car2go International Projects – Car2go International Business Administration International Projects Advised by Prof. Herr Fachhochschule Worms Susanne Kuhn Matr.Nr.: 660510 Daniel Aldana Matr.Nr.: 665452 Esther Vonni Catharina Matr.Nr.: 665105 Guncha Seidmyradova Matr.Nr.: 665609 Dieter Reimer Matr.Nr.: 662199 Sandra Wernet Matr.Nr.: 665649 Winter Term 2010/2011 Project Team Car4All Page I International Projects - Car2go Table of content Table of
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b. True. 10. PVGO = 0‚ and EPS1 equals the average future earnings the firm could generate under no-growth policy. 11. Free cash flow is the amount of cash thrown off by a business after all investments necessary for growth. In our simple examples‚ free cash flow equals operating cash flow minus capital expenditure. Free cash flow can be negative if investments are large. 12. The value at the end of a forecast period. Horizon value can be estimated using
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