• Blaire

商科代写/金融代写/essay代写/公司金融



公司金融的计算题是存在一些难度的,但是我们的老师可以辅导大部分的同学达到top10%的成绩。

1. Mitsy Ltd declared a dividend of $2.25 yesterday. The company is expected to grow its dividends at a constant rate of 4 per cent forever. You estimate a required rate of return of 14 per cent, what should be the market value of this share?

(a) $23.40

(b) $21.50

(c) $22.58

(d) $2.25

(e) The solution cannot be determined unless the $ value of all cash flows is known.

2. Mambo Jumbo Air Shuttle Ltd paid a dividend of $2.15 yesterday. The company is expected to grow its dividends at a constant rate of 5 per cent forever. You estimate a required rate of return of 15 per cent, what should be the market value of this share?

(f) $21.50

(g) $2.15

(h) $19.35

(i) $22.58

(j) The solution cannot be determined unless the $ value of all cash flows is known.

3. A company is considering a proposal to replace an existing machine with a new machine. The new machine costs $150,000 and has installation costs of $20,000. The machine will be fully depreciated using the straight-line method over a ten-year life. The new machine with its higher productive capacity is expected to result in an increase in revenue of $40,000 per annum. The maintenance cost of the current machine is $4,000 per annum whereas the new machine will have a maintenance cost of $2,000 per annum. The company has a 30 per cent tax rate. The annual incremental after tax cash flow from operations for year 1 is:

(a) $34,500

(b) $29,100

(c) $23,500

(d) $36,050

(e) $36,100

(f) Cannot be determined because the information provided is insufficient.

4. A company is considering a proposal to replace an existing machine with a new machine. The new machine costs $100,000 and has installation costs of $20,000. The machine will be fully depreciated using the straight-line method over a six-year life. The new machine with its higher productive capacity is expected to result in an increase in revenue of $30,000 per annum. The maintenance cost of the current machine is $5,000 per annum whereas the new machine will have a maintenance cost of $2,000 per annum. The company has a 30 per cent tax rate. The annual incremental after tax cash flow from operations for year 1 is:

(a) $14,000

(b) $29,100

(c) $30,100

(d) $39,100

(e) $36,100

(f) None of the above