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Which of the following was originally developed to differentiate organic from functional disorders and tomeasure change in cognitive impairment, and was not intended to be used as a diagnostic tool?

The date on which a firm pays out dividends is called the ________ date.

Brutus Company has announced plans to acquire Buckeye Enterprises. Brutus is trading for $25 per share and Buckeye is trading for $30 per share, with a pre-merger value for Buckeye of $3 billion dollars. If the projected synergies from the merger are $650 million, what is the maximum exchange ratio that Brutus could offer in a stock swap and still generate a positive NPV?

An investor estimates the value of a firm which manufactures cookware by examining the cash flows of similar firms. Which of the following is assumed to be the same for these firms?

Assume Brutus Co. has $10 million in excess cash and no debt. The firm expects to generate additional free cash flows of $40 million per year in subsequent years which they can pay out as a dividend. If Brutus’s unlevered cost of capital is 8%, then the enterprise value of its ongoing operations is PV(FCFs) = $40 million/8% = $500 million.Brutus’s board is meeting to decide how to pay out its $10 million in excess cash to shareholders. The board is considering two options: 1) Use the $10 million to pay a $1 cash dividend for each of Brutus’s 10 million outstanding shares2) Repurchase shares instead of paying a dividend In perfect capital markets, which would investors prefer?

With respect to dividends, the following represents the chronological order of events from earliest to latest:

When the cause of community-acquired pneumonia (CAP) is bacteria, which of the following is the most common pathogen, with about 50% of people with CAP requiring hospitalization?

When a firm repurchases shares, the supply of shares is ________, but at the same time, the value of the firm’s assets ________.  

Brutus Co. has nine million shares outstanding, generates free cash flows of $10 million each year and has a cost of capital of 7%. It also has $50 million of cash on hand. Managers at Brutus are deciding whether to distribute the $50 million in cash to shareholders through a repurchase or invest the $50 million in a project that generates $4 million in free cash flow in perpetuity. Should mangers invest in this project or repurchase shares?

You work for a levered buyout firm and are evaluating a potential buyout of TTUN Inc. TTUN’s stock price is $20, and it has 4 million shares outstanding. You believe that if you buy the company and replace its dismal management team, its value will increase by 80%. You are planning on doing a levered buyout of TTUN and will offer $23 per share for control of the company. Will shareholders sell their shares and how much equity will you own if improvements are made?