The author claims that there are many people who often laugh at the idea that there are UF
A.Y
B.N
C.NG
A.Y
B.N
C.NG
Even if they are on sale,these mobile phones are equal to ____in price,if not more expensive than,at the other store.
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A、These professions encourage their members to tell lies.
B、The members working in these professions tell nothing but lies.
C、Lawyers and consultants change the truth to benefit their clients.
D、Lawyers and consultants tell the truth because their clients need the truth.
A、Taxes
B、Agency costs and benefits of leverage
C、Signaling and adverse selection
D、All of the above influence capital structure decisions.
A、Because the WACC incorporates the tax savings from debt, we can compute the levered value of an investment, which is its value including the benefit of interest tax shields given the firm's leverage policy, by discounting its future free cash flow using the WACC.
B、The WACC incorporates the benefit of the interest tax shield by using the firm's before-tax cost of capital for debt.
C、When the market risk of the project is similar to the average market risk of the firm's investments, then its cost of capital is equivalent to the cost of capital for a portfolio of all of the firm's securities; that is, the project's cost of capital is equal to the firm’s weighted average cost of capital (WACC).
D、A project's cost of capital depends on its risk.
A、To determine the project's debt capacity for the interest tax shield calculation, we need to know the value of the project.
B、To compute the present value of the interest tax shield, we need to determine the appropriate cost of capital.
C、Because we don’t value the tax shield separately, with the APV method we need to include the benefit of the tax shield in the discount rate as we do in the WACC method.
D、A target leverage ratio means that the firm adjusts its debt proportionally to the project’s value or its cash flows.
A、The project's free cash flow to equity shows the expected amount of additional cash the firm will have available to pay dividends (or conduct share repurchases) each year.
B、The value of the project’s FCFE should be identical to the NPV computed using the WACC and APV methods.
C、The value of the project’s FCFE represents the gain to shareholders from the project.
D、Because interest payments are deducted before taxes, we adjust the firm's FCF by their before-tax cost.
A、For capital budgeting purposes, the project’s financing is the incremental financing that results if the firm takes on the project.
B、Projects with safer cash flows can support more debt before they increase the risk of financial distress for the firm.
C、If the positive free cash flow from a project will increase the firm's cash holdings, then this growth in cash is equivalent to a reduction in the firm’s leverage.
D、The incremental financing of a project corresponds directly to the financing that is directly tied to the project.
A、targeted repurchase
B、Dutch auction share repurchase
C、tender offer
D、open market share repurchases
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