home *** CD-ROM | disk | FTP | other *** search
| Unknown | 2001-12-19 | 124.1 KB |
open in: 
MacOS 8.1
|
Win98
|
DOS
view JSON data
|
view as text
This file was not able to be converted.
This format is not currently supported by dexvert.
| Confidence | Program | Detection | Match Type | Support
|
|---|
| 100%
| file
| data
| default
| |
| 100%
| TrID
| PrintFox/Pagefox bitmap (320x200)
| default (weak)
| |
| 100%
| gt2
| Kopftext: 'BRGEXM0500v0002ROSS Chapter 15'
| default (weak)
|
|
hex view+--------+-------------------------+-------------------------+--------+--------+
|00000000| 42 52 47 45 58 4d 30 35 | 30 30 76 30 30 30 32 52 |BRGEXM05|00v0002R|
|00000010| 4f 53 53 20 20 20 20 43 | 68 61 70 74 65 72 20 31 |OSS C|hapter 1|
|00000020| 35 3a 20 43 6f 73 74 20 | 6f 66 20 43 61 70 69 74 |5: Cost |of Capit|
|00000030| 61 6c 20 20 20 20 20 20 | 20 20 20 20 20 20 20 00 |al | .|
|00000040| 00 00 00 67 00 00 00 00 | 00 00 00 67 00 cc 3a 00 |...g....|...g..:.|
|00000050| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 be 00 00 |........|........|
|00000060| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000070| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000080| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000090| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000000a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000000b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 18 14 00 |........|........|
|000000c0| 00 31 01 00 46 6f 72 20 | 61 20 66 69 72 6d 20 77 |.1..For |a firm w|
|000000d0| 69 74 68 20 62 6f 74 68 | 20 64 65 62 74 20 61 6e |ith both| debt an|
|000000e0| 64 20 65 71 75 69 74 79 | 2e 2e 2e 20 01 00 67 00 |d equity|... ..g.|
|000000f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000100| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000110| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000120| 00 00 00 00 31 02 00 54 | 68 65 20 65 66 66 65 63 |....1..T|he effec|
|00000130| 74 20 6f 66 20 66 6c 6f | 74 61 74 69 6f 6e 20 63 |t of flo|tation c|
|00000140| 6f 73 74 73 20 69 73 20 | 74 6f 2e 2e 2e 20 20 01 |osts is |to... .|
|00000150| 00 67 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.g......|........|
|00000160| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|00000170| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000180| 00 00 00 00 00 00 00 31 | 03 00 54 68 65 20 62 65 |.......1|..The be|
|00000190| 73 74 20 77 61 79 20 74 | 6f 20 61 64 6a 75 73 74 |st way t|o adjust|
|000001a0| 20 66 6f 72 20 74 68 65 | 2e 2e 2e 20 20 20 20 20 | for the|... |
|000001b0| 20 20 01 00 67 00 00 00 | 00 00 00 00 00 00 00 00 | ..g...|........|
|000001c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|000001d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000001e0| 00 00 00 00 00 00 00 00 | 00 00 31 04 00 42 79 20 |........|..1..By |
|000001f0| 75 73 69 6e 67 20 61 20 | 66 69 72 6d 27 73 20 57 |using a |firm's W|
|00000200| 41 43 43 20 74 6f 20 61 | 6e 61 6c 79 7a 65 20 61 |ACC to a|nalyze a|
|00000210| 6c 6c 2e 2e 2e 01 00 67 | 00 00 00 00 00 00 00 00 |ll.....g|........|
|00000220| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000230| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000240| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 31 05 00 |........|.....1..|
|00000250| 46 6f 72 20 61 20 70 72 | 6f 66 69 74 61 62 6c 65 |For a pr|ofitable|
|00000260| 20 66 69 72 6d 2c 20 61 | 6e 20 69 6e 63 72 65 61 | firm, a|n increa|
|00000270| 73 65 20 69 6e 2e 2e 2e | 01 00 67 00 00 00 00 00 |se in...|..g.....|
|00000280| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000290| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000002a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000002b0| 31 06 00 49 74 20 69 73 | 20 67 65 6e 65 72 61 6c |1..It is| general|
|000002c0| 6c 79 20 62 65 74 74 65 | 72 20 74 6f 20 62 61 73 |ly bette|r to bas|
|000002d0| 65 2e 2e 2e 20 20 20 20 | 20 20 20 01 00 67 00 00 |e... | ..g..|
|000002e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000002f0| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
|00000300| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000310| 00 00 00 31 07 00 49 6e | 20 67 65 6e 65 72 61 6c |...1..In| general|
|00000320| 2c 20 66 6f 72 20 74 68 | 65 20 70 75 72 70 6f 73 |, for th|e purpos|
|00000330| 65 20 6f 66 2e 2e 2e 20 | 20 20 20 20 20 20 01 00 |e of... | ..|
|00000340| 67 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |g.......|........|
|00000350| 00 00 00 00 00 00 00 00 | 00 00 01 00 00 00 00 00 |........|........|
|00000360| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000370| 00 00 00 00 00 00 31 08 | 00 46 6f 72 20 74 68 65 |......1.|.For the|
|00000380| 20 70 75 72 70 6f 73 65 | 20 6f 66 20 65 73 74 69 | purpose| of esti|
|00000390| 6d 61 74 69 6e 67 20 74 | 68 65 2e 2e 2e 20 20 20 |mating t|he... |
|000003a0| 20 01 00 67 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..g....|........|
|000003b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 01 00 00 |........|........|
|000003c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000003d0| 00 00 00 00 00 00 00 00 | 00 31 09 00 46 6f 72 20 |........|.1..For |
|000003e0| 74 68 65 20 70 75 72 70 | 6f 73 65 20 6f 66 20 65 |the purp|ose of e|
|000003f0| 73 74 69 6d 61 74 69 6e | 67 20 74 68 65 2e 2e 2e |stimatin|g the...|
|00000400| 20 20 20 20 01 00 67 00 | 00 00 00 00 00 00 00 00 | ..g.|........|
|00000410| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000420| 01 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000430| 00 00 00 00 00 00 00 00 | 00 00 00 00 31 0a 00 49 |........|....1..I|
|00000440| 74 20 69 73 20 63 6f 6e | 73 69 64 65 72 65 64 20 |t is con|sidered |
|00000450| 75 6e 6c 69 6b 65 6c 79 | 20 74 68 61 74 20 74 68 |unlikely| that th|
|00000460| 65 2e 2e 2e 20 20 20 01 | 00 67 00 00 00 00 00 00 |e... .|.g......|
|00000470| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000480| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000490| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 31 |........|.......1|
|000004a0| 0b 00 42 79 20 75 73 69 | 6e 67 20 61 20 66 69 72 |..By usi|ng a fir|
|000004b0| 6d 27 73 20 57 41 43 43 | 20 74 6f 20 61 6e 61 6c |m's WACC| to anal|
|000004c0| 79 7a 65 20 61 6c 6c 2e | 2e 2e 01 00 67 00 00 00 |yze all.|....g...|
|000004d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000004e0| 00 00 00 00 00 00 01 00 | 00 00 00 00 00 00 00 00 |........|........|
|000004f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000500| 00 00 31 0c 00 53 75 70 | 70 6f 73 65 20 74 68 61 |..1..Sup|pose tha|
|00000510| 74 20 6e 65 77 20 69 6e | 66 6f 72 6d 61 74 69 6f |t new in|formatio|
|00000520| 6e 2e 2e 2e 20 20 20 20 | 20 20 20 20 20 01 00 67 |n... | ..g|
|00000530| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000540| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|00000550| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000560| 00 00 00 00 00 31 0d 00 | 54 68 65 20 6d 61 72 6b |.....1..|The mark|
|00000570| 65 74 20 76 61 6c 75 65 | 20 6f 66 20 61 20 66 69 |et value| of a fi|
|00000580| 72 6d 20 74 68 61 74 2e | 2e 2e 20 20 20 20 20 20 |rm that.|.. |
|00000590| 01 00 67 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..g.....|........|
|000005a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|000005b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000005c0| 00 00 00 00 00 00 00 00 | 31 0e 00 54 68 65 20 63 |........|1..The c|
|000005d0| 6f 73 74 20 6f 66 20 63 | 61 70 69 74 61 6c 20 64 |ost of c|apital d|
|000005e0| 65 70 65 6e 64 73 20 70 | 72 69 6d 61 72 69 6c 79 |epends p|rimarily|
|000005f0| 2e 2e 2e 01 00 67 00 00 | 00 00 00 00 00 00 00 00 |.....g..|........|
|00000600| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00000610| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000620| 00 00 00 00 00 00 00 00 | 00 00 00 31 0f 00 54 68 |........|...1..Th|
|00000630| 65 20 72 65 74 75 72 6e | 20 6f 6e 20 65 71 75 69 |e return| on equi|
|00000640| 74 79 20 69 73 20 74 68 | 65 20 72 65 74 75 72 6e |ty is th|e return|
|00000650| 2e 2e 2e 20 20 20 01 00 | 67 00 00 00 00 00 00 00 |... ..|g.......|
|00000660| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000670| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000680| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 31 10 |........|......1.|
|00000690| 00 54 68 65 20 63 6f 73 | 74 20 6f 66 20 64 65 62 |.The cos|t of deb|
|000006a0| 74 20 69 73 20 74 68 65 | 20 72 65 74 75 72 6e 20 |t is the| return |
|000006b0| 74 68 61 74 2e 2e 2e 20 | 20 01 00 67 00 00 00 00 |that... | ..g....|
|000006c0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000006d0| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000006e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000006f0| 00 31 11 00 54 68 65 20 | 66 69 72 6d 27 73 20 74 |.1..The |firm's t|
|00000700| 61 78 20 72 61 74 65 20 | 73 68 6f 75 6c 64 20 62 |ax rate |should b|
|00000710| 65 20 75 73 65 64 20 69 | 6e 2e 2e 2e 01 00 67 00 |e used i|n.....g.|
|00000720| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000730| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000740| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000750| 00 00 00 00 31 12 00 41 | 20 66 69 72 6d 20 74 68 |....1..A| firm th|
|00000760| 61 74 20 75 73 65 73 20 | 69 74 73 20 57 41 43 43 |at uses |its WACC|
|00000770| 20 74 6f 20 65 76 61 6c | 75 61 74 65 2e 2e 2e 01 | to eval|uate....|
|00000780| 00 67 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.g......|........|
|00000790| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|000007a0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000007b0| 00 00 00 00 00 00 00 31 | 13 00 4f 6e 65 20 6d 65 |.......1|..One me|
|000007c0| 74 68 6f 64 20 6f 66 20 | 63 6f 6d 70 75 74 69 6e |thod of |computin|
|000007d0| 67 20 61 20 64 69 76 69 | 73 69 6f 6e 61 6c 2e 2e |g a divi|sional..|
|000007e0| 2e 20 01 00 67 00 00 00 | 00 00 00 00 00 00 00 00 |. ..g...|........|
|000007f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|00000800| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000810| 00 00 00 00 00 00 00 00 | 00 00 31 14 00 49 66 20 |........|..1..If |
|00000820| 61 20 66 69 72 6d 20 75 | 73 65 73 20 74 68 65 20 |a firm u|ses the |
|00000830| 73 75 62 6a 65 63 74 69 | 76 65 2e 2e 2e 20 20 20 |subjecti|ve... |
|00000840| 20 20 20 20 20 01 00 67 | 00 00 00 00 00 00 00 00 | ..g|........|
|00000850| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000860| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000870| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 31 15 00 |........|.....1..|
|00000880| 54 68 65 20 61 70 70 72 | 6f 70 72 69 61 74 65 20 |The appr|opriate |
|00000890| 64 69 73 63 6f 75 6e 74 | 20 72 61 74 65 20 74 6f |discount| rate to|
|000008a0| 20 62 65 2e 2e 2e 20 20 | 01 00 67 00 00 00 00 00 | be... |..g.....|
|000008b0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000008c0| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000008d0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000008e0| 31 16 00 59 6f 75 20 61 | 72 65 20 63 6f 6e 73 69 |1..You a|re consi|
|000008f0| 64 65 72 69 6e 67 20 61 | 6e 20 69 6e 76 65 73 74 |dering a|n invest|
|00000900| 6d 65 6e 74 2e 2e 2e 20 | 20 20 20 01 00 67 00 00 |ment... | ..g..|
|00000910| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000920| 00 00 00 00 00 00 00 01 | 00 00 00 00 00 00 00 00 |........|........|
|00000930| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000940| 00 00 00 31 17 00 54 68 | 65 20 69 6e 74 65 72 65 |...1..Th|e intere|
|00000950| 73 74 20 72 61 74 65 20 | 74 68 61 74 20 73 68 6f |st rate |that sho|
|00000960| 75 6c 64 20 62 65 20 75 | 73 65 64 2e 2e 2e 01 00 |uld be u|sed.....|
|00000970| 67 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |g.......|........|
|00000980| 00 00 00 00 00 00 00 00 | 00 00 01 00 00 00 00 00 |........|........|
|00000990| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|000009a0| 00 00 00 00 00 00 31 18 | 00 57 68 69 63 68 20 6f |......1.|.Which o|
|000009b0| 66 20 74 68 65 20 66 6f | 6c 6c 6f 77 69 6e 67 20 |f the fo|llowing |
|000009c0| 69 73 20 74 72 75 65 20 | 61 62 6f 75 74 2e 2e 2e |is true |about...|
|000009d0| 20 01 00 67 00 00 00 00 | 00 00 00 00 00 00 00 00 | ..g....|........|
|000009e0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 01 00 00 |........|........|
|000009f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a00| 00 00 00 00 00 00 00 00 | 00 31 19 00 57 68 69 63 |........|.1..Whic|
|00000a10| 68 20 6f 66 20 74 68 65 | 20 66 6f 6c 6c 6f 77 69 |h of the| followi|
|00000a20| 6e 67 20 69 73 20 61 63 | 63 75 72 61 74 65 2e 2e |ng is ac|curate..|
|00000a30| 2e 20 20 20 01 00 67 00 | 00 00 00 00 00 00 00 00 |. ..g.|........|
|00000a40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a50| 01 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000a60| 00 00 00 00 00 00 00 00 | 00 00 00 00 31 1a 00 59 |........|....1..Y|
|00000a70| 6f 75 20 6e 65 65 64 20 | 74 6f 20 63 6f 6d 70 75 |ou need |to compu|
|00000a80| 74 65 20 74 68 65 20 63 | 6f 73 74 20 6f 66 2e 2e |te the c|ost of..|
|00000a90| 2e 20 20 20 20 20 20 01 | 00 67 00 00 00 00 00 00 |. .|.g......|
|00000aa0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ab0| 00 00 00 01 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ac0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 31 |........|.......1|
|00000ad0| 1b 00 59 6f 75 20 61 72 | 65 20 61 6e 61 6c 79 7a |..You ar|e analyz|
|00000ae0| 69 6e 67 20 61 20 66 69 | 6e 61 6e 63 69 61 6c 2e |ing a fi|nancial.|
|00000af0| 2e 2e 20 20 20 20 20 20 | 20 20 01 00 67 00 00 00 |.. | ..g...|
|00000b00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b10| 00 00 00 00 00 00 01 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b30| 00 00 31 1c 00 54 68 65 | 20 63 6f 73 74 20 6f 66 |..1..The| cost of|
|00000b40| 20 64 65 62 74 20 63 61 | 70 69 74 61 6c 20 66 6f | debt ca|pital fo|
|00000b50| 72 20 61 20 66 69 72 6d | 2e 2e 2e 20 20 01 00 67 |r a firm|... ..g|
|00000b60| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b70| 00 00 00 00 00 00 00 00 | 00 01 00 00 00 00 00 00 |........|........|
|00000b80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000b90| 00 00 00 00 00 31 1d 00 | 57 68 69 63 68 20 6f 66 |.....1..|Which of|
|00000ba0| 20 74 68 65 20 66 6f 6c | 6c 6f 77 69 6e 67 20 69 | the fol|lowing i|
|00000bb0| 73 20 4e 4f 54 20 74 72 | 75 65 2e 2e 2e 20 20 20 |s NOT tr|ue... |
|00000bc0| 01 00 67 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |..g.....|........|
|00000bd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 00 00 |........|........|
|00000be0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000bf0| 00 00 00 00 00 00 00 00 | 31 1e 00 57 68 69 63 68 |........|1..Which|
|00000c00| 20 6f 66 20 74 68 65 20 | 66 6f 6c 6c 6f 77 69 6e | of the |followin|
|00000c10| 67 20 69 73 20 4e 4f 54 | 20 61 2e 2e 2e 20 20 20 |g is NOT| a... |
|00000c20| 20 20 20 01 00 67 00 00 | 00 00 00 00 00 00 00 00 | ..g..|........|
|00000c30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 01 |........|........|
|00000c40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000c50| 00 00 00 00 00 00 00 00 | 00 00 00 31 1f 00 43 61 |........|...1..Ca|
|00000c60| 6c 63 75 6c 61 74 69 6f | 6e 20 6f 66 20 74 68 65 |lculatio|n of the|
|00000c70| 20 77 65 69 67 68 74 65 | 64 20 61 76 65 72 61 67 | weighte|d averag|
|00000c80| 65 2e 2e 2e 20 20 01 00 | 67 00 00 00 00 00 00 00 |e... ..|g.......|
|00000c90| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ca0| 00 00 01 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000cb0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 31 20 |........|......1 |
|00000cc0| 00 41 6c 6c 20 65 6c 73 | 65 20 65 71 75 61 6c 2c |.All els|e equal,|
|00000cd0| 20 61 20 68 69 67 68 65 | 72 20 63 6f 72 70 6f 72 | a highe|r corpor|
|00000ce0| 61 74 65 2e 2e 2e 20 20 | 20 01 00 67 00 00 00 00 |ate... | ..g....|
|00000cf0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d00| 00 00 00 00 00 01 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d10| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d20| 00 31 21 00 57 68 69 63 | 68 20 6f 66 20 74 68 65 |.1!.Whic|h of the|
|00000d30| 20 66 6f 6c 6c 6f 77 69 | 6e 67 20 69 73 20 4e 4f | followi|ng is NO|
|00000d40| 54 2e 2e 2e 20 20 20 20 | 20 20 20 20 01 00 67 00 |T... | ..g.|
|00000d50| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d60| 00 00 00 00 00 00 00 00 | 01 00 00 00 00 00 00 00 |........|........|
|00000d70| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000d80| 00 00 00 00 31 22 00 57 | 68 79 20 69 73 20 69 74 |....1".W|hy is it|
|00000d90| 20 6e 65 63 65 73 73 61 | 72 79 20 74 6f 20 6d 61 | necessa|ry to ma|
|00000da0| 6b 65 20 73 75 72 65 20 | 61 2e 2e 2e 20 20 20 01 |ke sure |a... .|
|00000db0| 00 67 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |.g......|........|
|00000dc0| 00 00 00 00 00 00 00 00 | 00 00 00 01 00 00 00 00 |........|........|
|00000dd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000de0| 00 00 00 00 00 00 00 31 | 23 00 49 6e 20 77 68 69 |.......1|#.In whi|
|00000df0| 63 68 20 6f 66 20 74 68 | 65 20 66 6f 6c 6c 6f 77 |ch of th|e follow|
|00000e00| 69 6e 67 20 63 61 73 65 | 73 20 77 6f 75 6c 64 2e |ing case|s would.|
|00000e10| 2e 2e 01 00 67 00 00 00 | 00 00 00 00 00 00 00 00 |....g...|........|
|00000e20| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 01 00 |........|........|
|00000e30| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000e40| 00 00 00 00 00 00 00 00 | 00 00 31 24 00 41 20 66 |........|..1$.A f|
|00000e50| 69 72 6d 20 74 68 61 74 | 20 75 73 65 73 20 69 74 |irm that| uses it|
|00000e60| 73 20 57 41 43 43 20 61 | 73 20 61 20 63 75 74 6f |s WACC a|s a cuto|
|00000e70| 66 66 2e 2e 2e 01 00 67 | 00 00 00 00 00 00 00 00 |ff.....g|........|
|00000e80| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000e90| 00 01 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ea0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 31 25 00 |........|.....1%.|
|00000eb0| 41 6a 61 78 20 43 6f 72 | 70 2e 20 68 61 73 20 62 |Ajax Cor|p. has b|
|00000ec0| 65 65 6e 20 6f 70 65 72 | 61 74 69 6e 67 20 61 73 |een oper|ating as|
|00000ed0| 2e 2e 2e 20 20 20 20 20 | 01 00 67 00 00 00 00 00 |... |..g.....|
|00000ee0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000ef0| 00 00 00 00 01 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000f00| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00000f10| 31 26 00 49 6e 20 75 73 | 69 6e 67 20 74 68 65 20 |1&.In us|ing the |
|00000f20| 5f 5f 5f 5f 5f 5f 5f 5f | 5f 5f 5f 20 61 70 70 72 |________|___ appr|
|00000f30| 6f 61 63 68 20 74 6f 2e | 2e 2e 20 01 00 67 00 00 |oach to.|.. ..g..|
|00000f40| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00005c60| 6f 66 20 64 65 62 74 2e | 20 52 65 76 69 65 77 20 |of debt.| Review |
|00005c70| 73 65 63 74 69 6f 6e 20 | 31 35 2e 33 2e 20 7d 00 |section |15.3. }.|
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|00005cd0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005ce0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005cf0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005d00| 00 00 00 00 00 00 00 33 | 01 00 39 00 00 00 00 00 |.......3|..9.....|
|00005d10| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
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|00005d40| 54 68 65 20 66 69 72 6d | 27 73 20 74 61 78 20 72 |The firm|'s tax r|
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|00005d60| 65 64 20 69 6e 20 63 6f | 6d 70 75 74 69 6e 67 20 |ed in co|mputing |
|00005d70| 74 68 65 20 77 65 69 67 | 68 74 65 64 20 61 76 65 |the weig|hted ave|
|00005d80| 72 61 67 65 20 63 6f 73 | 74 20 6f 66 20 63 61 70 |rage cos|t of cap|
|00005d90| 69 74 61 6c 20 69 66 20 | 74 68 65 20 66 69 72 6d |ital if |the firm|
|00005da0| 20 68 61 73 20 64 65 62 | 74 20 69 6e 20 69 74 73 | has deb|t in its|
|00005db0| 20 63 61 70 69 74 61 6c | 20 73 74 72 75 63 74 75 | capital| structu|
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|00005dd0| 00 7b 20 46 61 6c 73 65 | 20 7d 00 00 00 00 00 00 |.{ False| }......|
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|00005e50| 66 74 65 72 2d 74 61 78 | 20 63 61 73 68 20 66 6c |fter-tax| cash fl|
|00005e60| 6f 77 73 2e 20 52 65 76 | 69 65 77 20 73 65 63 74 |ows. Rev|iew sect|
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|00005ec0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005ed0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005ee0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005ef0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00005f00| 00 00 00 33 01 00 39 00 | 00 00 00 00 00 00 00 00 |...3..9.|........|
|00005f10| 00 00 00 00 00 00 00 00 | 00 00 00 00 01 00 02 00 |........|........|
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|00005ff0| 59 6f 75 20 61 72 65 20 | 63 6f 72 72 65 63 74 21 |You are |correct!|
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|000062f0| 00 00 00 00 00 00 00 00 | 00 00 00 00 00 00 00 00 |........|........|
|00006300| 00 00 00 00 00 00 33 01 | 00 39 00 00 00 00 00 00 |......3.|.9......|
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+--------+-------------------------+-------------------------+--------+--------+
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