Valuation – FCF Valuation Use the following information to calculate the enterprise value of PCP in 2015. Use the FCF non-constant growth model. Tax rate = 39%, WACC =5%, Income from Operations (2015) = $2612 million. The yearly growth rate in FCF for 2016, 2017, and 2018 is 5%, the long-term growth rate thereafter for FCF: g=2.5% per year. Use the following assumptions: FCF = (1-Tax)*(Income from Operations) + Depreciation – Capital Expenditures – Changes in Net Working Capital Here is additional information to calculate the FCF of PCP in 2015: Depreciation = $325 million Capital Expenditures = $457 million Net Working Capital changed from $3,899 million to $3,145 million, a decrease of $754 million.
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Warren Buffet has one of the best investment records in hist…
Warren Buffet has one of the best investment records in history with a compound annual return (also known as Geometric Average, GA, Annual return) of Berkshire Hathaway stock (BRK) of 22.8% per year from 1974 to 2015 compared to 8.50% per year for a portfolio of large firms (LSTK)). Based on the above returns, what would be the value in 2015 for an investment of $1000 in 1974 for BRK and for LSTK? Assume that the investment is made on January 1, 1974 and the values are for January 1, 2015. (See Exhibits 3 & 5) – (BRK/LSTK)
An older adult patient refuses a blood transfusion due to r…
An older adult patient refuses a blood transfusion due to religious beliefs. What is the appropriate nursing intervention?
a) Explain how each of Newton’s three laws of motion can con…
a) Explain how each of Newton’s three laws of motion can contribute to you determining whether an object is accelerating or not. b) An object that has a mass of 50kg has an applied force of 175N [forward] acting on it as well a force of friction of 200N [backward] acting on it. What do you know about it’s i) acceleration ii) velocity?
On January 1, Year 1, Fairfield Company purchases equipment…
On January 1, Year 1, Fairfield Company purchases equipment for $256,000. The equipment has an estimated useful life of 10 years and expected salvage value of $24,000. The company uses straight-line depreciation. At the end of year 4, Fairfield sells the equipment for $150,000. a. What is the annual depreciation expense related to this equipment? [ans1] b. What is the equipment’s book value (aka, net book value or carrying value) at the end of the fourth year? [ans2] c. Apply the given information. What is the amount of the gain or loss on the sale of the equipment at the end of the fourth year? [ans3]
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A. La entrevista de Gisela: Escuchar un párrafo. Listen as G…
A. La entrevista de Gisela: Escuchar un párrafo. Listen as Gisela, a friend you met while studying abroad in Mar del Plata, Argentina, describes her current job search. Respond if each statement is cierto (true) or falso (false) based on the information you hear. If it is not mentioned, put no se menciona. Reach the statements before listening to the audio and listen twice if needed. (1 pt. each; 8 pts. total) 1. Gisela se enteró del puesto vacante por un anuncio en el periódico. [blank1] 2. Gisela quiere el puesto de gerente en un hospital. [blank2] 3. Gisela habla tres lenguas. [blank3] 4. Fue a la oficina del gerente para hacer unas preguntas sobre el plan de beneficios. [blank4] 5. Gisela rellenó el formulario de la solicitud de trabajo en la oficina del gerente. [blank5] 6. Antes de la entrevista, Gisela revisó su currículum vitae en casa. [blank6] 7. Gisela no piensa practicar para la entrevista. [blank7] 8. Gisela todavía tiene que escribir su carta de presentación. [blank8]
What does the middle third of the embryonic bulbus cordis fo…
What does the middle third of the embryonic bulbus cordis form?
Integrity Statement: By virtue of enrollment, you agree to u…
Integrity Statement: By virtue of enrollment, you agree to uphold the high academic standards of the University of Wisconsin-Madison; academic misconduct is behavior that negatively impacts the integrity of the institution. Cheating, fabrication, plagiarism, unauthorized collaboration, and helping others commit these previously listed acts are examples of misconduct which may result in disciplinary action. Examples of disciplinary action include, but are not limited to, failure on the assignment/course, written reprimand, disciplinary probation, suspension, or expulsion. Reminders: Carefully read and follow all instructor guidelines for assessments. This may include whether assessments can be completed open or closed note, or in collaboration with others. You may not take pictures or screenshots of any material on exams or assignments. You may not write down exam or assignment questions and response options. You may not discuss or post assignment or exam material in online forums, such as Facebook groups. By submitting exam answers, you are declaring that you have not collaborated with anyone on this exam. You are also declaring that you have not used unauthorized materials or otherwise committed acts constituting academic misconduct as defined in the University of Wisconsin Academic Disciplinary Procedures, UWS 14. By completing exams, you are acknowledging that you understand that other students may be taking exams at a different time or date and that you WILL NOT DISCUSS the content of exams with other students until the final student has completed the exam. Student attestation: I have read the academic integrity guidelines and agree to follow the requirements outlined in the confidentiality statement. I understand that I must agree to this statement to receive credit for this assignment/exam.
Given that the following gynecological cancers may present w…
Given that the following gynecological cancers may present with overlapping symptoms, each type has distinct pathophysiological and clinical features. Please provide a brief analysis (~2 sentences) of the distinguishing characteristics of cervical, endometrial, and ovarian cancer, highlighting key differences in their presentation, risk factors, and diagnostic approaches.