Prada has ten million shares outstanding, generates free cash flows of $60 million each year and has a cost of capital of 10%. It also has $40 million of cash on hand. Prada wants to decide whether to repurchase stock or invest the cash in a project that generates free cash flows of $2 million each year. Should Prada invest or repurchase the shares? A. Repurchase B. Invest C. Indifferent between options D. Cannot say for sure

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter18: Initial Public Offerings, Investment Banking, And Capital Formation
Section: Chapter Questions
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Prada has ten million shares outstanding, generates free cash flows of $60 million each
year and has a cost of capital of 10%. It also has $40 million of cash on hand. Prada
wants to decide whether to repurchase stock or invest the cash in a project that
generates free cash flows of $2 million each year. Should Prada invest or repurchase the
shares?
A. Repurchase
B. Invest
C. Indifferent between options
D. Cannot say for sure
Transcribed Image Text:Prada has ten million shares outstanding, generates free cash flows of $60 million each year and has a cost of capital of 10%. It also has $40 million of cash on hand. Prada wants to decide whether to repurchase stock or invest the cash in a project that generates free cash flows of $2 million each year. Should Prada invest or repurchase the shares? A. Repurchase B. Invest C. Indifferent between options D. Cannot say for sure
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