Althоugh there is nо mentiоn of "privаcy" in the text of the Constitution, courts hаve recognized а constitutional right of privacy in the areas of sex, reproduction and family life.
EchоLаb is wоrld-renоwned for its sonаr аnd radar equipment. Its R&D team has been working tirelessly to create a new form of sonar to detect natural gas leaks from up to 5 miles away. The company has spent $5 million on this research and to trademark the name "Sonarific". It is now ready to begin manufacturing. The company is considering building a new facility to manufacture this equipment. It will build the new facility on a piece of land it purchased 3 years ago for $15 million. The company ordered an appraisal on this land that cost the company $10,000 that values the land today at $16.25 million. EN will build a plant for $150 million on this land. The plant has a useful life of 39 years and will be fully depreciated using straight-line depreciation. The project will last for 10 years. At the end of the 10 years, the company’s land and plant is expected to have a combined market value of $125 million. EN estimates that the first year Revenue will be $27.5 million, and that revenue will grow at 12.5% in year 2 with growth declining 1% per year thereafter (12.5%, 11.5%, 10.5%, etc.). The variable costs are expected to be 28% of Revenues. The accounting department will allocate $350,000 in overhead to the project, but none of this is new cost to the company (administration and executive salaries). SG&A for this project is expected to be $500,000 up to $30 million in Revenues, $550,000 for Revenues up to $40 million, and $600,000 thereafter (do not just hardcode the amounts; they need to update as the model changes). The company anticipates purchasing $5,000,000 in raw materials that will be partially financed with $2,000,000 in Accounts Payable. Thereafter, the company anticipates it will need to have a balance in NWC of 12.5% of the year’s sales at the beginning of each year. The company has a cost of capital of 12.0% and faces a tax rate of 25%. Calculate the Free Cash Flows, IRR, NPV and Payback for this project. Make sure these all update with any changes to the model. What are the NPV, IRR, and payback for the base case?