Gestion de La Informacion Financiera

676 WordsApr 29, 20133 Pages
Ejercicio ST-2 capítulo 7, Brigham, E.. (1992) Fundamentals of Financial Mangement,Estados Unidos: Editorial The Dryden Press,6a ed Lancaster Engineering Inc. (LEI) has the following capital structure, which it considers to be optimal: Debt 25% Prefered stock 15 Common equity 60 ---- 100% LEI’s expected net income this year is $34,285,72; its establish dividend payout ratio is 30 percent; its federal-plus-state tax rate is 40%; and investors expect earnings and dividends to grow at a constant rate of 9 percent in the future. LEI paid a dividend of $3.60 per share last year and its stock currently sells at a price of $60 per share.…show more content…
.18% | Acciones Preferentes | (0-50,000) | 5% | $11/100*(1-.05) | 11.58% | | 50,000.0 | 10% | $11/100*(1-.1) | 12.22% | Deuda | (0-5,000) | 12% | (.12(1-.4) | 7.20% | | (5,000-10,000) | 14% | (.14(1-.4) | 8.40% | | 10,000.0 | 16% | (.16(1-.4) | 9.60% | c) Calculate the weighted average cost of capital in the interval between each break in the MCC schedule c) | | W | K | KW | (0-2000) | D | 25% | 7.2% | 1.80% | | AP | 15% | 11.58% | 1.74% | | AC | 60% | 15.54% | 9.32% | | | | | 12.861% | | | | | | (20000-40000) | | W | K | KW | | D | 25% | 8.4% | 2.10% | | AP | 15% | 11.58% | 1.74% | | AC | 60% | 16.27% | 9.76% | | | | | 13.597% | | | | | | (40000-50000) | | W | K | KW | | D | 25% | 9.6% | 2.40% | | AP | 15% | 11.58% | 1.74% | | AC | 60% | 16.27% | 9.76% | | | | | 13.897% | | | | | | (50000-60000) | | W | K | KW | | D | 25% | 9.6% | 2.40% | | AP | 15% | 12.22% | 1.83% | | AC | 60% | 16.27% | 9.76% | | | | | 13.993% | | | | | | (+60000) | | W | K | KW | | D | 25% | 9.6% | 2.40% | | AP | 15% | 12.22% | 1.83% | | AC | 60% | 17.18% | 10.31% | | | | | 14.538% | d) LEI has the following investment opportunities, which are graphed below as the IOS schedule: Project | Cost at t=0 | Rate of return | A | $10,000 | 17.4%

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