题目
题目

COMM_V 370 101-108 2025W1 COMM 370 2025W1 - Practice Final

数值题

Last year, the Clarity Corporation had Free Cash Flow (FCF) of $950.  Some other financial information from last year: Clarity paid $520 in dividends to its shareholders Clarity paid $250 in interest Clarity's depreciation expense was $120  Clarity repaid $65 of existing debt and issued new debt of $145 Clarity's corporate tax rate is 30% Calculate Clarity's Free Cash Flow to Equity (FCFE) last year (with one decimal).

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标准答案
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思路分析
To approach this numerical question, I’ll start by identifying the relationships between the given figures and what FCFE represents. First, recognize that FCFE (free cash flow to equity) can be derived from FCFF (free cash flow to the firm) by adjusting for after‑tax interest and net borrowing: FCFE = FCFF − Interest afte......Login to view full explanation

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类似问题

Regarding the valuation of levered companies, select the correct statement:

Use Coug Co.’s financial statements below to calculate their FCFE for 20X1:     Coug Co. Balance Sheet Assets 20x0 20x1 Current assets Cash $ 295 $ 340 Inventory $ 206 $ 210 Accounts Receivable $ 198 $ 243 Total CA $ 699 $ 793 LT Assets PP&E $ 1,190 $ 1,240 Accumulated Depreciation $ (280) $ (310) Net PP&E $ 910 $ 930 Total Assets $ 1,609 $ 1,723 Liabilities & Equity 20x0 20x1 Current Liabilities Accounts Payable $ 148 $ 166 Notes Payable $ 110 $ 80 Total CL $ 258 $ 246 Long-Term Debt $ 335 $ 360 Total Liabilities $ 593 $ 606 Owners' Equity $ 1,016 $ 1,117 Total Liab. & Equity $ 1,609 $ 1,723   Coug Co. Income Statement 20x1 Revenue $ 1,548.00 COGS $ (423.00) Depreciation $ (388.00) EBIT $ 737.00 Interest Expense $ (124.00) EBT $ 613.00 Taxes $ (147.00) Net Income $ 466.00  

Suppose you have estimated the free cash flows to equity holders over the next five years as follows: Year 1: $33.2 million Year 2: $35.8 million Year 3: $42.3 million Year 4: $36.9 million Year 5: $40.5 million You expect FCFE to remain constant at $38.6 million after year 5. If the company’s cost of equity is 13%, the WACC is 12%, the YTM is 10%, and the tax rate is 34%, then what is the value of the firm’s equity (in millions)?

What is the Last FAD's FCFE in the current year?

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