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A firm had after-tax income last year of $3.7 million. Its depreciation expenses were $0.2 million,...
Last year Miami Rivet had $5 million in operating income (EBIT). Its depreciation expense was $1...
Last year Miami Rivet had $5 million in operating income (EBIT). Its depreciation expense was $1 million, its interest expense was $1 million, and its corporate tax rate was 25%. At year-end, it had $14 million in operating current assets, $3 million in accounts payable, $1 million in accruals, $2 million in notes payable, and $15 million in net plant and equipment. Assume Miami Rivet has no excess cash. Miami Rivet uses only debt and common equity to fund its...
Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the...
Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $200,000 and sell its old low- pressure glueball, which is fully depreciated, for $36,000. The new equipment has a 10-year useful life and will save $44,000 a year in expenses. The opportunity cost of capital is 8%, and the firm's tax rate is 21%. What is the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately....
Butterfly Tractors had $20.50 million in sales last year. Cost of goods sold was $9.30 million,...
Butterfly Tractors had $20.50 million in sales last year. Cost of goods sold was $9.30 million, depreciation expense was $3.30 million, interest payment on outstanding debt was $2.30million, and the firm's tax rate was 30%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) Net income million b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) Net cash flow million C. What would happen...
Butterfly Tractors had $21.50 million in sales last year. Cost of goods sold was $9.50 million,...
Butterfly Tractors had $21.50 million in sales last year. Cost of goods sold was $9.50 million, depreciation expense was $3.50 million, interest payment on outstanding debt was $2.50 million, and the firm's tax rate was 21% a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
Butterfly Tractors had $15.50 million in sales last year. Cost of goods sold was $8.30 million,...
Butterfly Tractors had $15.50 million in sales last year. Cost of goods sold was $8.30 million, depreciation expense was $2.30 million, interest payment on outstanding debt was $1.30 million, and the firm’s tax rate was 21%. a. What was the firm’s net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm’s cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
Butterfly Tractors had $23.00 million in sales last year. Cost of goods sold was $9.80 million,...
Butterfly Tractors had $23.00 million in sales last year. Cost of goods sold was $9.80 million, depreciation expense was $3.80 million, interest payment on outstanding debt was $2.80 million, and the firm’s tax rate was 21%. a. What was the firm’s net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm’s cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
Last year Miami Rivets had S6 million in operating income (EBIT). Its depreciation expense was $1...
Last year Miami Rivets had S6 million in operating income (EBIT). Its depreciation expense was $1 million, its interest expense was $1 min, and its corporate tax rate was 30%. At year-end, it had $15 million in current assts, $4 million in accounts payable, $1 million in accruals, $2 million in notes payable, and $16 million in net plant and equipment. Miami Rivets uses only debt and common equity to fund its operations. (In other words, Miami Rivets has no...
Lauryn’s Doll Co. had EBIT last year of $59 million, which is net of a depreciation...
Lauryn’s Doll Co. had EBIT last year of $59 million, which is net of a depreciation expense of $5.9 million. In addition, Lauryn’s made $7.3 million in capital expenditures and increased net working capital by $2.4 million. Assume that Lauryn’s has a reported equity beta of 1.7, a debt-to-equity ratio of 0.7, and a tax rate of 40 percent. What is Lauryn’s FCF for the year? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal...
Last year Cole Furnaces had $4 million in operating income (EBIT). The company had a net...
Last year Cole Furnaces had $4 million in operating income (EBIT). The company had a net depreciation expense of $1 million and an interest expense of $1 million; its com-bined federal and state corporate tax rate is 25%. The company has $14 million in operat-ing current assets and $4 million in operating current liabilities; it has $15 million in net plant and equipment. It estimates that it has an after-tax cost of capital of 10%. Assume that Cole’s only noncash...
A firm reports that in a certain year it had a net income of $4.3 million,...
A firm reports that in a certain year it had a net income of $4.3 million, depreciation expenses of $3.0 million, capital expenditures of $2.1 million, and Net Working Capital decreased by $1.2 million. What is the firm's free cash flow for that year? OA. $4.6 million OB. $40 million O C. $6.4 million OD. 510 6 million
Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $200,000 and sell its old low- pressure glueball, which is fully depreciated, for $36,000. The new equipment has a 10-year useful life and will save $44,000 a year in expenses. The opportunity cost of capital is 8%, and the firm's tax rate is 21%. What is the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately....
Butterfly Tractors had $20.50 million in sales last year. Cost of goods sold was $9.30 million, depreciation expense was $3.30 million, interest payment on outstanding debt was $2.30million, and the firm's tax rate was 30%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) Net income million b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) Net cash flow million C. What would happen...
Butterfly Tractors had $21.50 million in sales last year. Cost of goods sold was $9.50 million, depreciation expense was $3.50 million, interest payment on outstanding debt was $2.50 million, and the firm's tax rate was 21% a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
Last year Miami Rivets had S6 million in operating income (EBIT). Its depreciation expense was $1 million, its interest expense was $1 min, and its corporate tax rate was 30%. At year-end, it had $15 million in current assts, $4 million in accounts payable, $1 million in accruals, $2 million in notes payable, and $16 million in net plant and equipment. Miami Rivets uses only debt and common equity to fund its operations. (In other words, Miami Rivets has no...
A firm reports that in a certain year it had a net income of $4.3 million, depreciation expenses of $3.0 million, capital expenditures of $2.1 million, and Net Working Capital decreased by $1.2 million. What is the firm's free cash flow for that year? OA. $4.6 million OB. $40 million O C. $6.4 million OD. 510 6 million
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