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Calculate the net present value for each investment using a discount rate of 18 percent. Round intermediate calculations and the final answers to the nearest dollar. If the NPV is negative, enter your answer as a negative value.   NPV Traditional equipment $fill in the blank  Contemporary technology $fill in the blank  2.  Calculate the net present value for each investment using a discount rate of 14 percent. Round intermediate calculations and the final answers to the nearest dollar.   NPV Traditional equipment $fill in the blank  Contemporary technology $fill in the blank  4.  Now, assume that if the traditional equipment is purchased, the competitive position of the firm will deteriorate because of lower quality (relative to competitors who did automate). Marketing estimates that the loss in market share will decrease the projected net cash inflows by 50 percent for Years 3–10. Recalculate the NPV of the traditional equipment given this outcome using a discount rate of 14 percent. Round intermediate calculations and your final answer to the nearest dollar. What is the NPV now?

Calculate the net present value for each investment using a discount rate of 18 percent. Round intermediate calculations and the final answers to the nearest dollar. If the NPV is negative, enter your answer as a negative value.   NPV Traditional equipment $fill in the blank  Contemporary technology $fill in the blank  2.  Calculate the net present value for each investment using a discount rate of 14 percent. Round intermediate calculations and the final answers to the nearest dollar.   NPV Traditional equipment $fill in the blank  Contemporary technology $fill in the blank  4.  Now, assume that if the traditional equipment is purchased, the competitive position of the firm will deteriorate because of lower quality (relative to competitors who did automate). Marketing estimates that the loss in market share will decrease the projected net cash inflows by 50 percent for Years 3–10. Recalculate the NPV of the traditional equipment given this outcome using a discount rate of 14 percent. Round intermediate calculations and your final answer to the nearest dollar. What is the NPV now?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question

Sweeney Manufacturing has a plant where the equipment is essentially worn out. The equipment must be replaced, and Sweeney is considering two competing investment alternatives. The first alternative would replace the worn-out equipment with traditional production equipment; the second alternative uses contemporary technology and has computer-aided design and manufacturing capabilities. The investment and after-tax operating cash flows for each alternative are as follows:


Year		 Traditional
Equipment		 Contemporary
Technology
   0 $(990,250) $(3,998,000)
   1 591,150  192,500 
   2 394,650  398,750 
   3 209,100  591,550 
   4 209,100  801,600 
   5 209,100  801,600 
   6 209,100  801,600 
   7 209,100  1,007,000 
   8 209,100  1,991,100 
   9 209,100  1,991,100 
  10 209,100  1,991,100 

The company uses a discount rate of 18 percent for all of its investments. The company's cost of capital is 14 percent.

The present value tables provided in Exhibit 19B.1 and Exhibit 19B.2 must be used to solve the following problems.

Required:

1.  Calculate the net present value for each investment using a discount rate of 18 percent. Round intermediate calculations and the final answers to the nearest dollar. If the NPV is negative, enter your answer as a negative value.

  NPV
Traditional equipment $fill in the blank 
Contemporary technology $fill in the blank 

2.  Calculate the net present value for each investment using a discount rate of 14 percent. Round intermediate calculations and the final answers to the nearest dollar.

  NPV
Traditional equipment $fill in the blank 
Contemporary technology $fill in the blank 

4.  Now, assume that if the traditional equipment is purchased, the competitive position of the firm will deteriorate because of lower quality (relative to competitors who did automate). Marketing estimates that the loss in market share will decrease the projected net cash inflows by 50 percent for Years 3–10. Recalculate the NPV of the traditional equipment given this outcome using a discount rate of 14 percent. Round intermediate calculations and your final answer to the nearest dollar.

What is the NPV now?
$fill in the blank 

EXHIBIT 19B.1 Present Value of $1* Periods 2% 4% 6% ৪% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 40% 0.980 0.961 0.962 0.925 0.943 0.890 0.926 0.857 0.862 0.743 0.794 0.630 0.769 0.592 0.758 0.574 0.909 0.826 0.751 0.683 0.877 0.769 0.833 0.694 0.820 0.672 0.781 0.610 1 0.893 0.797 0.847 0.806 0.650 0.714 0.510 0.364 0.7 18 0.641 0.552 0.942 0.889 0.840 0.794 0.712 0,675 0.609 0.579 0.551 0.524 0.500 0.477 0.455 0.435 4 0.924 0.855 0.792 0.735 0.636 0.592 0.516 0.482 0.451 0.423 0.397 0.373 0.350 0.329 0.260 5 0.906 0.822 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.402 0.370 0.341 0.315 0,291 0.269 0.250 0.186 0.133 0.095 6. 0.888 0.871 0.790 0.760 0.705 0.665 0.636 0.583 0.564 0.513 0.507 0.452 0.456 0.400 0.410 0.354 0.370 0.314 0.335 0.279 0.303 0.275 0.222 0.250 0.198 0.227 0.207 0.189 0.143 7 0.249 0.178 0.159 0.853 0.837 0.820 0.804 0.788 0.627 0.592 0.558 0.527 0.497 0.469 0.233 0.194 0.162 0.139 0.108 0.085 0.066 0.052 0.204 0.108 0.082 0.062 0.046 0.036 8 0.731 0.540 0.467 0.404 0.351 0.305 0.266 0.179 0.157 0.123 0.068 0.424 0.386 0.350 0.319 0.361 0.322 0.263 0.227 0.195 0.168 0.125 0.099 0.079 0.062 0.094 0.073 0.056 0.043 0.048 0.035 0.025 0.018 9 0.703 0.500 0.308 0.225 0.167 0.144 0.676 0.650 0.625 0.270 0.237 10 0.463 0.191 0.137 0.116 0.429 0.397 0.162 0.137 0.116 0.112 0.092 0.094 0.076 11 0.287 0.135 12 0.257 0.208 0.112 13 0.773 0.601 0.368 0.290 0.229 0.182 0.145 0.093 0.075 0.061 0.050 0.040 0.033 0.027 0.013 14 0.758 0.577 0.442 0.340 0.263 0.205 0.160 0.125 0.099 0.078 0.062 0.049 0.039 0.032 0.025 0.021 0.009 15 0.743 0.555 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 0.051 0.040 0.031 0.025 0.020 0.016 0.006 16 0.025 0.728 0.714 0.534 0.513 0.394 0.292 0.270 0.218 0.163 0.146 0.123 0.093 0.080 0.071 0.060 0.054 0.045 0.042 0.032 0.026 0.019 0.015 0.012 0.005 17 0.371 0.198 0.108 0.034 0.020 0.015 0.012 0.009 0.003 0.700 0.686 0.673 0.130 0.116 0.104 0.069 0.060 0.051 0.044 0.051 0.043 0.037 0.028 0.023 0.019 18 0.494 0.350 0.250 0.180 0.095 0.038 0.021 0.016 0.012 0.009 0.007 0.002 0.475 0.456 0.439 0.083 0.073 0.007 0.005 19 0.331 0.232 0.164 0.031 0.017 0.012 0.009 0.005 0.002 0.312 0.294 0.278 20 0.215 0.149 0.026 0.014 0.010 0.007 0.004 0.001 21 0.660 0.199 0.135 0.093 0.064 0.031 0.022 0.015 0.011 0.008 0.006 0.004 0.004 0.003 0.001 22 0.647 0.422 0.184 0.123 0.083 0.056 0.038 0.026 0.018 0.013 0.009 0.006 0.003 0.002 0.001 0.262 0.247 0.233 0.220 0.207 0.049 0.043 0.038 0.033 0.029 0.026 0.002 0.001 0.001 0.001 0.001 0.000 0.000 0.000 0.000 23 0.634 0.406 0.390 0.170 0.112 0.074 0.033 0.022 0.015 0.010 0.007 0.005 0.003 0.002 0.622 0.610 0.598 0.586 0.102 0.092 0.084 0.076 0.069 24 0.158 0.066 0.028 0.019 0.013 0.008 0.006 0.004 0.003 0.002 0.146 0.135 0.125 0.059 0.053 0.047 0.042 0.001 0.001 0.001 0.001 25 0.375 0.024 0.016 0.010 0.007 0.005 0.003 0.002 0.361 0.347 0.021 0.018 0.014 0.011 0.000 0.000 0.000 0.000 26 0.009 0.006 0.004 0.002 0.002 0.005 0.004 0.003 0.003 0.003 0.002 0.002 0.002 0.001 0.001 0.001 27 0.007 28 0.574 0.333 0.196 0.116 0.016 0.010 0.006 0.321 0.308 29 0.563 0.185 0.107 0.063 0.037 0.022 0.014 0.008 0.005 0.002 0.001 0.000 0.000 30 0.552 0.174 0.099 0.057 0.033 0.020 0.012 0.007 0.004 0.002 0.001 0.001 0.000 0.000 0.000 *P, = A/(1 + i)".
Transcribed Image Text:EXHIBIT 19B.1 Present Value of $1* Periods 2% 4% 6% ৪% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 40% 0.980 0.961 0.962 0.925 0.943 0.890 0.926 0.857 0.862 0.743 0.794 0.630 0.769 0.592 0.758 0.574 0.909 0.826 0.751 0.683 0.877 0.769 0.833 0.694 0.820 0.672 0.781 0.610 1 0.893 0.797 0.847 0.806 0.650 0.714 0.510 0.364 0.7 18 0.641 0.552 0.942 0.889 0.840 0.794 0.712 0,675 0.609 0.579 0.551 0.524 0.500 0.477 0.455 0.435 4 0.924 0.855 0.792 0.735 0.636 0.592 0.516 0.482 0.451 0.423 0.397 0.373 0.350 0.329 0.260 5 0.906 0.822 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.402 0.370 0.341 0.315 0,291 0.269 0.250 0.186 0.133 0.095 6. 0.888 0.871 0.790 0.760 0.705 0.665 0.636 0.583 0.564 0.513 0.507 0.452 0.456 0.400 0.410 0.354 0.370 0.314 0.335 0.279 0.303 0.275 0.222 0.250 0.198 0.227 0.207 0.189 0.143 7 0.249 0.178 0.159 0.853 0.837 0.820 0.804 0.788 0.627 0.592 0.558 0.527 0.497 0.469 0.233 0.194 0.162 0.139 0.108 0.085 0.066 0.052 0.204 0.108 0.082 0.062 0.046 0.036 8 0.731 0.540 0.467 0.404 0.351 0.305 0.266 0.179 0.157 0.123 0.068 0.424 0.386 0.350 0.319 0.361 0.322 0.263 0.227 0.195 0.168 0.125 0.099 0.079 0.062 0.094 0.073 0.056 0.043 0.048 0.035 0.025 0.018 9 0.703 0.500 0.308 0.225 0.167 0.144 0.676 0.650 0.625 0.270 0.237 10 0.463 0.191 0.137 0.116 0.429 0.397 0.162 0.137 0.116 0.112 0.092 0.094 0.076 11 0.287 0.135 12 0.257 0.208 0.112 13 0.773 0.601 0.368 0.290 0.229 0.182 0.145 0.093 0.075 0.061 0.050 0.040 0.033 0.027 0.013 14 0.758 0.577 0.442 0.340 0.263 0.205 0.160 0.125 0.099 0.078 0.062 0.049 0.039 0.032 0.025 0.021 0.009 15 0.743 0.555 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 0.051 0.040 0.031 0.025 0.020 0.016 0.006 16 0.025 0.728 0.714 0.534 0.513 0.394 0.292 0.270 0.218 0.163 0.146 0.123 0.093 0.080 0.071 0.060 0.054 0.045 0.042 0.032 0.026 0.019 0.015 0.012 0.005 17 0.371 0.198 0.108 0.034 0.020 0.015 0.012 0.009 0.003 0.700 0.686 0.673 0.130 0.116 0.104 0.069 0.060 0.051 0.044 0.051 0.043 0.037 0.028 0.023 0.019 18 0.494 0.350 0.250 0.180 0.095 0.038 0.021 0.016 0.012 0.009 0.007 0.002 0.475 0.456 0.439 0.083 0.073 0.007 0.005 19 0.331 0.232 0.164 0.031 0.017 0.012 0.009 0.005 0.002 0.312 0.294 0.278 20 0.215 0.149 0.026 0.014 0.010 0.007 0.004 0.001 21 0.660 0.199 0.135 0.093 0.064 0.031 0.022 0.015 0.011 0.008 0.006 0.004 0.004 0.003 0.001 22 0.647 0.422 0.184 0.123 0.083 0.056 0.038 0.026 0.018 0.013 0.009 0.006 0.003 0.002 0.001 0.262 0.247 0.233 0.220 0.207 0.049 0.043 0.038 0.033 0.029 0.026 0.002 0.001 0.001 0.001 0.001 0.000 0.000 0.000 0.000 23 0.634 0.406 0.390 0.170 0.112 0.074 0.033 0.022 0.015 0.010 0.007 0.005 0.003 0.002 0.622 0.610 0.598 0.586 0.102 0.092 0.084 0.076 0.069 24 0.158 0.066 0.028 0.019 0.013 0.008 0.006 0.004 0.003 0.002 0.146 0.135 0.125 0.059 0.053 0.047 0.042 0.001 0.001 0.001 0.001 25 0.375 0.024 0.016 0.010 0.007 0.005 0.003 0.002 0.361 0.347 0.021 0.018 0.014 0.011 0.000 0.000 0.000 0.000 26 0.009 0.006 0.004 0.002 0.002 0.005 0.004 0.003 0.003 0.003 0.002 0.002 0.002 0.001 0.001 0.001 27 0.007 28 0.574 0.333 0.196 0.116 0.016 0.010 0.006 0.321 0.308 29 0.563 0.185 0.107 0.063 0.037 0.022 0.014 0.008 0.005 0.002 0.001 0.000 0.000 30 0.552 0.174 0.099 0.057 0.033 0.020 0.012 0.007 0.004 0.002 0.001 0.001 0.000 0.000 0.000 *P, = A/(1 + i)".
EXHIBIT 19B.2 Present Value of an Annuity of $1 in Arrears* Periods 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 40% 1 0.980 0.962 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 0.820 0.806 0.794 0.781 0.769 0.758 0.714 1.392 1.868 2 1.942 1.866 1.833 1.783 1.736 1.690 1.647 1.605 1.566 1.528 1.492 1.457 1.424 1.361 1.331 1.224 2.174 2.690 3.127 2.042 2.494 2.864 1.923 2.320 2.635 1.816 2.166 2.436 1.589 1.849 2.035 2.884 2.775 2.673 2.577 2.487 2.402 2.322 2.246 2.106 1.981 2.404 1.766 3.808 4.713 2.914 2.798 3.433 3.274 2.241 2.532 4 3.630 3.465 3.312 3.170 3.037 2.589 2.096 3.993 4.623 4.452 4.212 3.791 3.605 2.991 2.745 2.345 3.326 3.605 6. 5.601 5.242 4.917 4.355 4.111 3.889 3.685 3.498 3.167 3.020 2.885 2.759 2.643 2.534 2.168 4.288 4.039 4.639 4.344 4.946 4.607 5.216 4.833 7. 6.472 6.002 5.582 5.206 4.868 4.564 3.812 3.416 3.242 3.083 2.937 2.802 2.677 2.263 8. 7.325 6.733 6.210 5.747 5.335 4.968 3.078 3.837 3.619 3.421 3.241 3.076 2.925 2.786 2.331 7.435 8.111 3.184 3.269 9. 8.162 6.802 6.247 5.759 5.328 5.650 4.303 4.031 4.192 4.327 4.439 4.533 3.786 3.923 3.566 3.682 3.776 3.851 3.366 3.465 3.019 2.868 2.930 2.379 2.414 10 8.983 7.360 6.710 6.145 4.494 3.092 9.787 10.575 11.348 8.760 9.385 9.986 7.887 8.384 8.853 4.656 4.793 4.910 5.008 5.092 11 7.139 6.495 5.938 5.453 5.029 4.035 3.543 3.335 3.147 2.978 2.438 6.194 6.424 4.127 4.203 3.606 3.656 3.387 3.427 3.190 3.223 3.013 3.040 12 7.536 6.814 5.660 5.197 2.456 13 7.904 7.103 5.842 5.342 3.912 2.469 14 12.106 10.563 8.244 7.367 9.295 9.712 6.628 6.002 5.468 4.611 4.675 4.265 3.962 3.695 3.459 3.483 3.249 3.061 2.478 15 12.849 11.1 18 8.559 7.606 6.811 6.142 5.575 4.315 4.001 3.726 3.268 3.076 2.484 16 13.578 11.652 10.106 8.851 7.824 6.974 6.265 5.668 5.162 4.730 4.357 4.033 3.751 3.503 3.283 3.088 2.489 17 14.292 12.166 10.477 9.122 8.022 7.120 6.373 5.749 5.222 4.775 4.391 4.059 3.771 3.518 3.295 3.097 2.492 18 14.992 12.659 10.828 6.467 5.818 9.372 8.201 9.604 8.365 7.250 5.273 4.812 4.419 4.080 3.786 3.529 3.304 3.104 2.494 19 15.678 13.134 11.158 7.366 6.550 5.877 5.316 4.843 4.442 4.097 3.799 3.539 3.311 3.109 2.496 3.113 3.116 3.118 16.351 13.590 11.470 9.818 8.514 3.316 3.320 20 7.469 6.623 5.929 5.353 4.870 4.891 4.460 4.476 4.110 4.121 4.130 3.808 3.546 3.551 3.556 2.497 5.384 5.410 21 17.011 14.029 11.764 10.017 8.649 7.562 6.687 5.973 3.816 2.498 22 17.658 14.451 12.042 10.201 8.772 7.645 6.743 6.011 4.909 4.488 3.822 3.323 2.498 23 18.292 14.857 12.303 10.371 8.883 7.718 6.792 6.044 5.432 4.925 4.499 4.137 3.827 3.559 3.325 3.120 2.499 24 18.914 15.247 12.550 10.529 8.985 7.784 6.835 6.073 5.451 4.937 4.507 4.143 3.831 3.562 3.327 3.121 2.499 2.499 2.500 2.500 2.500 4.147 4.151 3.564 3.566 3.122 3.123 25 19.523 15.622 12.783 10.675 9.077 7.843 7.896 7.943 7.984 6.873 6.097 5.467 5.480 4.948 4.956 4.514 4.520 4.524 4.528 4.531 3.834 3.329 3.330 26 20.121 15.983 13.003 10.810 9.161 6.906 6.118 3.837 5.492 5.502 4.964 4.970 4.975 4.979 3.123 3.124 27 20.707 16.330 13.211 10.935 9.237 6.935 6.136 4.154 3.839 3.567 3.331 4.157 4.159 3.568 3.569 28 21.281 16.663 13.406 11.051 9.307 6.961 6.152 3.840 3.331 29 21.844 16.984 13.591 11.158 9.370 8.022 6.983 6.166 5.510 3.841 3.332 3.124 2.50o 30 22.396 17.292 13.765 11.258 9.427 8.055 7.003 6.177 5.517 4.534 4.160 3.842 3.569 3.332 3.124 2.500 *P, = (1/) x [1 - 1/(1 + 0").
Transcribed Image Text:EXHIBIT 19B.2 Present Value of an Annuity of $1 in Arrears* Periods 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 40% 1 0.980 0.962 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 0.820 0.806 0.794 0.781 0.769 0.758 0.714 1.392 1.868 2 1.942 1.866 1.833 1.783 1.736 1.690 1.647 1.605 1.566 1.528 1.492 1.457 1.424 1.361 1.331 1.224 2.174 2.690 3.127 2.042 2.494 2.864 1.923 2.320 2.635 1.816 2.166 2.436 1.589 1.849 2.035 2.884 2.775 2.673 2.577 2.487 2.402 2.322 2.246 2.106 1.981 2.404 1.766 3.808 4.713 2.914 2.798 3.433 3.274 2.241 2.532 4 3.630 3.465 3.312 3.170 3.037 2.589 2.096 3.993 4.623 4.452 4.212 3.791 3.605 2.991 2.745 2.345 3.326 3.605 6. 5.601 5.242 4.917 4.355 4.111 3.889 3.685 3.498 3.167 3.020 2.885 2.759 2.643 2.534 2.168 4.288 4.039 4.639 4.344 4.946 4.607 5.216 4.833 7. 6.472 6.002 5.582 5.206 4.868 4.564 3.812 3.416 3.242 3.083 2.937 2.802 2.677 2.263 8. 7.325 6.733 6.210 5.747 5.335 4.968 3.078 3.837 3.619 3.421 3.241 3.076 2.925 2.786 2.331 7.435 8.111 3.184 3.269 9. 8.162 6.802 6.247 5.759 5.328 5.650 4.303 4.031 4.192 4.327 4.439 4.533 3.786 3.923 3.566 3.682 3.776 3.851 3.366 3.465 3.019 2.868 2.930 2.379 2.414 10 8.983 7.360 6.710 6.145 4.494 3.092 9.787 10.575 11.348 8.760 9.385 9.986 7.887 8.384 8.853 4.656 4.793 4.910 5.008 5.092 11 7.139 6.495 5.938 5.453 5.029 4.035 3.543 3.335 3.147 2.978 2.438 6.194 6.424 4.127 4.203 3.606 3.656 3.387 3.427 3.190 3.223 3.013 3.040 12 7.536 6.814 5.660 5.197 2.456 13 7.904 7.103 5.842 5.342 3.912 2.469 14 12.106 10.563 8.244 7.367 9.295 9.712 6.628 6.002 5.468 4.611 4.675 4.265 3.962 3.695 3.459 3.483 3.249 3.061 2.478 15 12.849 11.1 18 8.559 7.606 6.811 6.142 5.575 4.315 4.001 3.726 3.268 3.076 2.484 16 13.578 11.652 10.106 8.851 7.824 6.974 6.265 5.668 5.162 4.730 4.357 4.033 3.751 3.503 3.283 3.088 2.489 17 14.292 12.166 10.477 9.122 8.022 7.120 6.373 5.749 5.222 4.775 4.391 4.059 3.771 3.518 3.295 3.097 2.492 18 14.992 12.659 10.828 6.467 5.818 9.372 8.201 9.604 8.365 7.250 5.273 4.812 4.419 4.080 3.786 3.529 3.304 3.104 2.494 19 15.678 13.134 11.158 7.366 6.550 5.877 5.316 4.843 4.442 4.097 3.799 3.539 3.311 3.109 2.496 3.113 3.116 3.118 16.351 13.590 11.470 9.818 8.514 3.316 3.320 20 7.469 6.623 5.929 5.353 4.870 4.891 4.460 4.476 4.110 4.121 4.130 3.808 3.546 3.551 3.556 2.497 5.384 5.410 21 17.011 14.029 11.764 10.017 8.649 7.562 6.687 5.973 3.816 2.498 22 17.658 14.451 12.042 10.201 8.772 7.645 6.743 6.011 4.909 4.488 3.822 3.323 2.498 23 18.292 14.857 12.303 10.371 8.883 7.718 6.792 6.044 5.432 4.925 4.499 4.137 3.827 3.559 3.325 3.120 2.499 24 18.914 15.247 12.550 10.529 8.985 7.784 6.835 6.073 5.451 4.937 4.507 4.143 3.831 3.562 3.327 3.121 2.499 2.499 2.500 2.500 2.500 4.147 4.151 3.564 3.566 3.122 3.123 25 19.523 15.622 12.783 10.675 9.077 7.843 7.896 7.943 7.984 6.873 6.097 5.467 5.480 4.948 4.956 4.514 4.520 4.524 4.528 4.531 3.834 3.329 3.330 26 20.121 15.983 13.003 10.810 9.161 6.906 6.118 3.837 5.492 5.502 4.964 4.970 4.975 4.979 3.123 3.124 27 20.707 16.330 13.211 10.935 9.237 6.935 6.136 4.154 3.839 3.567 3.331 4.157 4.159 3.568 3.569 28 21.281 16.663 13.406 11.051 9.307 6.961 6.152 3.840 3.331 29 21.844 16.984 13.591 11.158 9.370 8.022 6.983 6.166 5.510 3.841 3.332 3.124 2.50o 30 22.396 17.292 13.765 11.258 9.427 8.055 7.003 6.177 5.517 4.534 4.160 3.842 3.569 3.332 3.124 2.500 *P, = (1/) x [1 - 1/(1 + 0").
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Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
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