Setvcoeu @ ecse ‘chapow-tem banks rite ape ee ot i Poy "Financial Leverage and Capital Structure Pliy 1 Howcunde levee Aiea bith scopic yi as D ber dened ar sm mcene i es debi E theta wed deeb he copa src levee om, 2. Nich ene oft ting ste thee of Fem ete the capt B MeN Ppenont PMMA Pepoz Ethos Hots 2. We sein ta iin fet cpa ety apa Ane Bene Moos MSM Peper D Law of One Pe Seater 5 ssn ask ap 6 Le Cp Se Fy onl 6. Bote Selec en yearby 3505 nee te mere apes © Suc hes 1 Pemnandn fen en we cn pt a) 8 tego frm logon rier ee.Activ clin ae cn der ary Paleo Baer nips 2 cpa 10-By deo wth ft loving corse ee ite am ‘esi en Kastnctbaliy FV nus covrmedtobeigfmaly Sonera Oak 5 ites cay Einav 1 The prope hata Sem trons poe ps whether bene fhe ‘sn tarts nel om acted ut egal expen he ‘ier ueee i asl avs cnn ‘©tesieteogofeapen sce 1a hfe twig ch pst ndrih t em 6 beds Steer 2 Minoar 3 tecoacine © tennE Spatremource ‘isles rose eon eco tel cone sabltsnes The C trader 2 shea fom su be dsined caiybkoapt B tow aco tem seme, ck jude aed opto gy ae 5 bow ng avenue’ fm led enabler tector 2 walk paec cone papa nw wasup) psec ap 6 Le Cp Se Fy 17 Theva os mis minced wen he A cosofeqonrs macme C icedcos of apa sanz 2 Reghed cag fap mii 18 The optimal apt sre as bec shee he he Bei equ cal ote weg of eb atau rose tees pone reed erage et fea pers Te oe cons ofall uy fancy Tie seca poe seca» Sete rato of0 45, Wat dls A Tous dot expe eager eee ‘Se Gat weltweit en ete nerd opin sce he eb se ha 0 D ala theyre opton ce te eng EBT thn he eevee 22 ae soap en tread nn inet [tm wit eminy costo py fron oto et 5 fuming beret en tans el at sgn pe ae sens pn en nce ft lcd ope D attra oftvrge xed dnd aaapes of vee E femse debecqa a 0130.2 Benes lca se 8 oy reed im E-BeSuemue ss chgs EIT hen fs ls 22 one ut ck en ean ne Se Qa 2 ter ne uy ad pce aia she of Quan tick 5 esa er oct es ponitan she eta be om a tae penal (el sowe tres of Qua sc ool he proce 2 tle re eee eed et 2 Rhihoeof te ftoig mae capil neo 24 Ma Proposition te ope the met at G weitere ti el ey fom ee CCupetefnnce satan Sanath Chger!= Chat ap 6 Len Cp Se Fy 25. Thconcp of omenade lees ie mot cated wih: 2 Maht Pepsin i cae2 Saschepnen ie 26, Miko font ene ne contin w MAN Poni I seems seo te wind ene ca et 1 Taran fen dracwhen bem ofveng weds sin 3 tite nitty 2 ecapal neo mtn eet nthe eae te cat ofeaay digest eran ee Seb ean od hese Sim con ou omer on nas peel Ry Ra) 2 ac gear pe dscrardepanon tome pense 26 Tabs ak ofa 1 pend ct feel of usec epee ope te ie eis thee a egy edt Sauce eS DB tasapouierensntp atte swat gu 5 i inn wh seus os Sn me cag aap Leg Cp See Fs Euan ne cid whe fae eae I. hema nro oe 1 Fameale ek iw cea ns as open 3 tami od PLa RaW 40. 44 Proposition hax suppor te ery ha 2 seed usage oto apl Serene othe em eb equa ace 8 Seven afefom wien rae me tien ye Disco oop isthe serene mi of et and psy ed she ES f'scont of epee te kaya oem dees Be cal ance ffm does ot ner ree eos cs mena D teva ofa im nr oh ese ens Boca of ee ees a shih {A bsthe ne zene pianos a» MEM Proposition I wiht aes 5 sate hts capil sore nla pp te gue nes a eid by hcp ce dein. 5 separ tere hc feu Scenes a he et uy ro tesap 6 Len Cp Se Fy 18. Tete sale ofthe ire sels i eed a anon Sverre) C (emir: Gr» De D feet tex Re heb. 3 tami o C Lia oy Dita et Pw 2 degen ere ei added th capa eve. Bean of er eee aioe othe tale fale a 16 Based oo MEM Popnton wih ae. te wiht average ot of api 1 seal teatera costo 3 fase oct fee cp Ehegaok dt (ape 6 Fe Leeper 37 Bate 2 comer fre fom enc acare ental pe etme D cost weld ol aod erase es, (Castaneda ato as overt he opin ao Dosage conn empnce ving nove event sto pep baioty repre‘eed te eal atl occ fe 4 Rca ca a ist ht fal ap 6 Len Cp Se Fy 2. Teoma apa snerte (layouts tered acerca Cage, D pcs me saps peatons Sasne. ect canes nb ns ae {hei eo scpi emcaete at opi pe e Syne soi er i ie eprom te Dineen of i weced wera con fai 2 stn snes oma acon Slar oS ern uepy ‘sd taser of 4 Shion E48 Thy too dpe ti met fers ime ot 2 aacofte ocd cia, Rett tee tw nmi eine tee oo re io aap Leg Cp See Fssee inag mo stern inet mainte ifsc stntptt ae ine ieee EET, cermin Hens eae Etat & merce con Semis Sey ld 2 veadioorenesh bin dansts eat 8 Gets nt teste 5 a 060 E Sgt aon Beery por 50. Whikone ote ftw tates ene te Chapter tani cane ‘A Alem Gap ockpy rove Scpos ch ea STAs Cpe gy amu ane net a i ae ES wai otha im Soot tke oe Chater tatty lows fe esc tant such tar ae sae of ck ‘era ured po oe mom oo op 5. Whine of te foi wil gna have hig py wh ae deaths ais potash 2A eb tg SMemSoceaee see sashes TEER $3. Te ips Abr Pvt mn Cres resin A085evn ms tm ing oberon ethan ose D peste pie eee pln cn empleo, E Sion fms poy best ey enployersto ete ewe eons remain it feteu ere apse Lege Cp Sree ie 54. Keto Fee eng eee longed aan eleven capt te The (Tolerentaf2S000 due efun pln E0000 fan terest? Fete What se beak eee eve of eamgs bee eet an atesbetca hve ns Ine ses 56 Sener aries alley im hte 5.00 es of eck oni akan af 151 ave. The Ses nen bs dod oe $90 eho Sotameerat ett = baie esi ap 6 Len Cp Se Fy 5 ley Gn. pei im i 4000 occa fost man youll afr ener ie iain? Asus You on ou of ‘Ste sourecee Bont ne fk lene te resin 58. Yes comet or 0 srs FKL a TK a al ty Smt 75.00 ses ‘foc Soman ame fre 10 ace Tecan sen bre mre© Isbatees 5 moans Scie 6150100 of ear pres The ol bed gece sre of ‘Secstanng tock Caney su ones hres of Nk neck How man shes of ‘ivr se wi you conc ae you lee ha pot’ Acre you can anak Sus 75 pee eres aid ne 2 Sate ape Lege Cp See ks ‘mpc nt pce of toeing SEOQ 00 a9 pct sre rope 12000, SoS c de oni sock Wha tea offre yee oes” 2 wseatior Comat 6 The Jn tet al ety at a 46,0 se f tac cnt The ‘Septet bance muon pure 7150 sero rock Sem ‘Seca of dened street What cule fiefs nee” 5 sstosceo Baus {fication Tr oe soar reaped obs Teton ome!lgnweime a soinse B sven sis te (2, Mee Toph beset of072. The et cot of it 87 pet tithereted ncn snen 16 pecans Wht othe con of eu fouiaore bt pacer64 etn Dp cn fey 1 pre ad mon o78 Dos Bas (MANE Propoution Iw ota? Apacer Be pact (6LA Citing ny expected curing ele rn dtee 0f 54890, nent ‘Sut cao pecan ed vem roe of tprent The company aos S 010 of (Sind ces pees cupn Te kw eing prue Whai ae ef ae ‘mt E sn great capa Lege Cp see ks £m hen ly im ah Sod dng Separate mu coondog alu 1 ulin cro aco eoe femme Ti dpe Wit ed ea $209 on destination mt math Saicknniine a eaten B 047600 5s 2s 62 rani mle mh sna icone 1780 Th ase Predap 6 Len Cp See Fy 10. anv ahs a cna of 175 pest an came Before aes of 53270 levee em he se peas an ase as oa bok abe B si s9siss © sr 4n'09 Esiaeas 21 DoweBeeg a muledcon apoB pcm cafe aa en etc econ tae pet wpa atte eal The expected eens ble ‘tees nd nee 8210 teat prt a the Weed cs of ls. pepe ade ecco ape Lege Cp See ks td eroved eran teem nd te oT 615700 Te capes he SL 2 ‘is otmanng tat ve 6 pect conpe nd pv ert saa Theos ae ‘Slnearporase tase oof enemy" SPS pacer Biss pee 14. Th Piz Pals tas cs oe of 153 pret and etd cont of af US pgcet Tr congar bs 8200 det hts seligat ual Teleeed aieD2 pce Eootpact © 12g Diese pacar 2 Reacher cot oft pnt md ened ctf apa ‘etm drei ae? bow ap 6 Len Cp Se Fy 77-Doos& Fas deen moo 04 The pesatcon of ers 7 6yce lee elevaegcot ect! 135 geen Whats eco of gh ea e's Eto pacar ry sem ne cme singe ewe Pike 19. Gers Rest a 50 ta casing wa Bee au ofS. ac and Coupon tof pee Te mart ps sem sana Wht he omoue of oe Soe SS eco 3 swans esisr000 10175 pacers Thetis 32 peat Wh we pest ave fe acl Seno ese(ape Leg Scie SEL REE asco ae Ss pacer wa £2. finan ite o$12000, evan ae 260 eso a at of 920 egit mengecos oon tite ahr ete Ott fpr hte feos ee oe Bape Ci opaeet 4. Pay te Spey as xing bei and tof S0609 Bathe ‘eck te mats of ot 810,00 The tied cot fein 18 pct she pea co afebrn perce The antes 8 prc, Wha the Ss eh veue cos ef” ap 6 Len Cp See Fy an Qa 5. eating egg, oe abet ar ase op raph pl i ato ‘ese at nde et ones Ceti greet eae ‘See one gh pte WAC on rare enc eed oy aon ‘iw ees RM hs, ate sus ors Bey xian are Ne Bes ‘eve soe am ateansas cont apa en eter diem ese ‘Saco aeage ope cag al ste of What ales tose the Sac ee” ‘he fen bar coed hth a savory ot be wig to acral(ape 6 Fe Leeper {5 Ie ck ofthe tener ofa src te ct of egy scene te nt of Settee So dot Enon manage ne ie tarpon ee te Sot oie Set a Hac ena ppd {9pm how vse an te ano oes am bo sce | Secalles open ata, 0, Ea Sie ne Bano ett oueandng a t mnet vleo51600- Eanes ‘ele men nd en BI epoca be I 00 emcee comics we ‘Sala sant anesansn nh ccna hen iT wo. em ef ‘esa seen tes EBT wl 35 pcunoner Em Sides coves $100 Sets th pens aes te Th owed lb we sepuce Shes ot So There recent 00 ses coats gees te esos ee fespon S alcngety pers conpared somal coma sasing at emer Bispace 52s perceat 2 Re ect St, Nor Side ne Bae ao ee stn data matt aloe of S15 000 amine tei tees andes BIT, epoca be S16 00 ferences we ‘Sa Te we canty 250 es cman Ne Sek 2k ot parae I ‘Ectccamy crane megs EPS wil change prem sncompacstonrormal ‘cofous suming tt he mrcape2. alas Pesce compar to rent apa antes all equa) fds inden an I) Une an Gay ou ae 6500s tock ‘Shnnclay UntesPac lve nn 1100 se of ack avandia 179 ¢ Ssi1ii ‘ABC lle financed with $20 000 sock XYZ wes bot ack pepe Set ‘och ort S000 md he neta ont debt pce Bore oe bitte beSticolgmetmee Tae con ofecuy ar ASC pent mdr auinne aap Leg Cp See Fs sss coy wa excimer fos eget Te Seg Satna re Bike Es 56. WV Tees ee basa debe oof Is WAC is 10 pen andiscostf det ‘S9peet Thecompete at 8 pct What es ese cos ofa Di idpecer Boer Co, moc EIT S100 cy yx rm Ti conto Foca onpuave e? Bssussio C sisiBrace Co expects ESI oe IL000 ey ya eit The Scan at I pce Bc cen ee a tote neces Fee SSRCC beater repens” ~ 5 i820 pect £9 New Shon, nu a EBT 05700 em et Th fae ‘Soyer peo, Whar vl hve of erm become 50 pet oe Csnuorts ape Lege Cp See Fs (Caper 16 Finca Leverage and Capital Struts Poley Aner Key 5 he acne ef See ida err resin oie (Cte Soramad rman tony bv asso a as fase hee Diet deed ws ntnese inl eecs e 2. We one of te owing es tat eae oa em renew thecal BNEMPeqoutentD LawefOne Be ap 6 Len Cp Se Fy 5. We one oft nin se tat cote icy an ropa eles beep see” MEN Propousicn I 5 Ee ine Hates eesti 163 Be 4. Wh ne fe toning the ea ik hts on seed ee ly pent Pu 8 Seon ak fe © Ser 2iaaa aap Leg Cp See Fs 5 Seen Sana6 Bue yee sas yearby $350 nti tes expense by S00 Wace ota es wes deste sx oa” eesti 165 ap 6 Len Cp Se Fy 1 Te ered cot oop et the ot ofa A pve Raley ee {Disco nce a sneer aad wih ome 3 we © Sette Sete 2 aleveapse Lege Cp Sree ie 2 dtd Sma 2 apes Tes Elita ap 6 Len Cp Se Fy 1 Tee ropes ara em bron po hey white mpl net fthe ‘cen ls ened om evened ore ote al expen he ce auton nana ve otal ‘Sheva dnuy funn cn 12 Which oft aloviag ite pl cei nd hia inlet em can be rome 1B tein C ieeb meee 5 ipuaterer 5 rai ee iapes ee Lege Cpn Sener 1s, Btvas Fm Poe was use met mil elton an ns edo 15 The toe rey nde Semi: 1 taf cmt eed tay kt hue aes prcna akgy ae 5 ba gauged fm led ena er bnew tecton ck psc pn shape occ reRefers 16:10 2 otic te hgh con oeapa [Boers thee ote Som © sammie oe 2 enh ae of wiht ae of 8: apse Lege Cp Sree ie OC tered cont ofa sree Diese at eage cost of ape imi 2 cdsegu sao med 18pm cp ts each a 1 ino equric al te weg of eb Se anna nc ncn cur E sebcequy ao enn eles pone wehndstrge cataap 6 Len Cp See Fy pers Te eee cons oa eur fone Tie ead pon seca SoG weiner Aeon ec te never opin ce he eee ha 0 2p Richa iced opened niet Weenie 20. Yooh cused an ce pie bere eee dled capil ‘re ome theses ees Atte tease el he XSi reams eas opy fern otaPar se © Senge pin te ered opts cay does of te evr ape il Le Cp Se Fy [A the tence pi thereto oreo St cana prchve al gual sro when EBT sr freee en. (The sings of iveage ae need ee ERT 5 Rese of everett vel of EIT sense te EPS 22. Jesse a Quo ck heat fan was vere Se he Qua bas heel ap oe aor Say f00 Tose Fue 2 Snr ect pean eto i thr peal (ler of Quote oak nla eedsa some treo un sk adeno ec Gees penal deb 901050. erases 162 2 hehoe ote fog me esl saci 2 cess Elemis tonnes ted say eof fmol nat 15 Sm son brow mene tie pos wee ea ent om debts lt the ovat thermal pry of eas! Jane ape il Lg Cpt Se Py AISRESSIESS5 MANE poston tt Refrain 163 26. Wick fhe flowing statements ae comet inn f MEM Props Iw so ‘Te oqed seen co mes sega the weighed aeage costa 4 Feldman macy 5 ms Nene C tassttec ea aly ap 6 Len Cp See Fy 27 Ma Popes se popstos ta 1 tecapal site ot fm a et ah as ae 5 he ata egy Spends on te sermon Se, he See nde ae (sarcoma aun Ace wh slope equ 2o) 5 thefts dest depend on boi pss ed Retest 163 1 dade tofu i © depen apo he le ii fee a ty edt nce he Sm D Sssapontnersasonsupirh te fms cox of aa Ee cakes os St one cag ALEape il Le Cp Ste Fy [nalts ra snc hoe oe Seg IAG Socal anemone Se ee cet af ean 1 Panes oly open e aen poley 1 Faancol skis tensk atest ns toons Tandy hana Tavira em siomate SEE va centmetemnaenntneyenie ape 6 Len Cp Se Fy 51. ua Poposon sh bse on he coca ta ‘te opal al sauce te ot a aly tae ih ey Dy these oer neren the es Se ene bce of rte a il eat gue oe eu as ceo eesti 165 ‘tas the ame geonral pains as MEM Proposition without res Bsa tats col eur la5 Superstars ar bcos of equ Scns oe eb ao tes, © Gorn at hcl ue dese satel leo fia.iS Scer eae ean ab ncaguaenaneceimanarentacs 36 Bed MEM Pst he wid econ mi 2 hrTientea cho soesin i © enact yee Dene ee et eam esien E'seqateRe To 57 Bate Buta ae scolar tendtda ( ehmcalroca ert qe orto D cosh ae hed ea ales 5. Which on fh feminist? 2 cman £0 ae pinay om mast etsy ae ae er tan he opto 5 ona ae comps empinne E pve vie coun so prepregs59. 1a ne he pal moun of te then he 1 ret tama es con ms eu the peat as fhe esx Sd ‘bude te pal capil cnc fa” [Sceepeoml i epson ene Dion ptanes often 4 Tail ce atm ha fa so DB temier eco fea (Somes pre uf he xsl on SRS Tee te nt5 Pt cgi caren {Re tay cap arc ht at i pn pts pnt aso ts ie ee © eprom te 5 Sepnder ofc eed aeagcon fait Esch ar ig want of rah ined ae ‘ned tea lr of et. Reero sein 166 BSan.. 4H. Thebasc no of MEM Tee tht he ab of fim pene ce eset ow ote Sm fuming ie see ns 5 te ae fers loth. ap 6 Fil Leni See Py45, Whe rfid i prec oe a acing te ping er ton” 2 Sirens © Son ck © fected ck Pa 46, Wich loving scons acing pci er sy? ‘pamesecpc cea ea Eocene ten pt a et Amst cpa sro ety eed fr ee Scns 2 Mamita C Litas ny Din oy ap 6 Len Cp Se Fy $7 Coporsons eS tas: Bensawaioe oe Crees ce Same Sy ld sree ot ome te morse 0am snp mememt e SSSR om 2 Eee ieiaieoe See tntenthicn Sines ero sti 169ape il Le Cp Se Fy Struct el cignion, 50. Which ono te fone tema ee Chie trite coe 2 tami Chg 7 bere feb operat hha sn 8 0 fag svatiecoms Cara Capes gy amu ane nto a i ae 5 Wal Chaper? trap can of sos pp aves? lls afi oats it eqty wc tne hes of ck tec gees ed pute Sm come uo bas SI. Which on of the ting il gneve hebben ny when ce oe eal bags metas? poy temple mee52. may ies Chagt 1 akg apse Lege Cp Sree ie 5. The Bangi Ate Pevenon nd Comme Precinct of 05 2 pein es pep tae we i fi ne Deon, © rn fm nn lg rts cn ee i oe peste pine eae pln nt fm empl nto Edo ms poy best ey enployersto ste ewe eapoyeeo remain it eteat ey 54 Keto Feared mec lagd aa level apt ste The ‘tu oan nce windsor £9880 se ef oak eee guy opoe Soieace Bist C6333 Ess BIT 4.00 = BIT -S289000 x 0.07} 25.00, EBLE $2267 aaap 6 Len Cp See Fy 5 Mo’ isonet al em a 9.0 sts ok ndig 8 ‘Sckegres cattle npn tg Ehsaan aeutar 0 pons Ture srt mae Sees S200 5 Set BIT ,00 = [EBIT-(5120000» 9055) [000 -(620,000 $42} EBIT=$35 910 ‘sicker pce af 15 0 ave The mame: dedd ose $0 10 eth of ‘ci meena ae oere te Bas Pe ESET S000 = [EBIF- 630000 » 010)}(5.00- 2.000): EB EPs s7S00- (30000010) (5000 2000; EPS S150 50. ae. 5 ler Som eam i 4009 ocd Sire ndtonierne ee Sac ope wg 5000 oo {percent The et be nore snes of ac ou on 40 ser of ‘eft source ete oc of ok enor ta 2 Sides Natersvae ofan 220000 Niles wei soe 2 ates we debe 8251 00082.21000= LLL Toro Inne =O 211% 20000 = 8222222 [bw al enema none = 40) 592 3864 $137.78,och saan sta mre pe of 10 are The carpany rn bene mre Tastes we S00 TL hs Gna ue] mon of et pacer ses Ts © 180 taes IRLEDS reset S140, 00075 900=S1 966657 IL EPS ah ene (14000 -8609000) 50,00 ~ $120 ate Stade i a =n SR SCEETLDIT SMa ley caw Setar Se ac or ahigesncarceet tare Sota camrecymaeimatin seas Sesion Siteitor’ Sse epicted = 57500083). ‘avo saes costing wih t= 6,00 18000: ‘ivnrs BPo son" $7 00060000" 5045 inors £95, ah ete = (7,000 -896250) 4500-5058 Nor tamtarasc=isol » sos 2s0000 ino sae at S50 ‘ino aoe= $2200 $7500 099900 You news posi 072 = $2000" 818750 FS RHEE © 86250 x D075) 5705 ape 6 Lg np See Fy Pere ls a al aS ht us 0.00 se fstoc cong The Soman te proce ftnomg 860010 a9 acest orci 12000, SESS Nesey nc tars eva avert aSomme Fam ela = 99000 (60000012000) =S lin Be. 6 ha ut i ta 00 ta ck cit Te ‘Sits of devel sare: What eal ae ft fame es? © sissees? Fv ~ 18400 (S17 500)= $2,ape il Le Cp Ste Fy ‘Tov Coe pare te asinose aces Catt Natt Tp adie 02 Th scoot 7 pce C20 Speen 5 Inspect ES pec Re +0161 - (0161-0087) 072=21.8 pect 6. sian Dehra rego 1 pnt ad seo oof 8 exe The quel enc ae mncn a 12 pen Ws he fate Fede Maite ores” Bass Beas Re~0.1M6=0182+ 0152-0078) xDEDE=026 MiXFPrepontce boot Apacer Gi pocet Ps 1+ 012-29 0562SSATE psc fe kn ngs pe haw bao S'Sasat Yzfsigs00 x 4-030) VisSnse sito eon sh rm nly en i280 foc cg Sastre captions Tn smilie dupe Wit bee bof BE Somatice BS ese Eragon teaeestam -sstze ape 6 Lg np See Fy 64 Baht Moin Feds bs xpi mings fire te of 8 0,0 e 2 sme(© pope Unni sn ered eri on shea ne ome of 7800 The selected S10 pcan ei pcr nance Netoser heafS0750n Alerts operon en ve bb tek le a siso7ai 5 sL9e286 Y=f7 sto d -os9y07s= 13402 Yafiieeaes 1 osetia =Shaonsap 6 Lg nC Se Fey 12. Jolson Te Distr Seb with bth fies atl of $12.0 This etc coon aac pet wpa cet eal The expected eens bel ‘Sein tse S810 Sete Sop a elo coc [8100 -osopoatr= sins6sa0 2 6410-30» 812.000 173. Coy aes asad cst fcapl of 12 perce ata of 8 percent, Eececed ene me es 15-10 Ti aye = AS pacer 5 1407 pent F te2s pace 315.00 x (-038)012= 811667 Eeliteer oat sire waa! 29667 2Ss59657 SiLto0='42966) TE fo 1 -ae) thon s428667 <-038) AS. Se ipcer 5 btn Doze Ry 20153 20.8 = (0128 -Ro (822000881. 000-522000)] (1-038) Ron T22pecet a= Fc Teter hd bars Rn ies Sitercceays Ry + (Rs 0075 1 045 (1-059) R= ape 6 Leg Cp See Fey 16 Bate Weegee bia eta ot of et of pc an an eed ot of in ete arcu ae” Eos Ie=0146 +0145. 0089 DEX 0-037; DE: ies oes Ps Se royce ne cman ea woe Noes ibe19. Gers Resa as 500 ton cuaning wh ce valu of SOO each and coujon of 825 pe There spud ven asa Whar she onout of sists 5 stioaan0. eae Anche x il = 4.500% $1000 D085 037= 513730250, (aye Leng ipn sme Pty $0.0 L Take hn $200 fee uti an par ed ae coupe 6075 peor The ete pact We pret ae eal Ss 5 sé00 Es Pret ae of en sield = 039 $1,000» $6,720 Eras wet venarcon cca? AUS pect Biespoce 5 itty 200 -039)013 837692 Bareas ear gason~S3a2602 20.13 + (O15 008) » (62500872826 90) x (L.0.30)= 0132215 ‘ac = ss 0682 8522690) x 01021] = (9250022830) «008 (-030) spaceap 6 Fi Leni Se Py 2 an io $1200, Seer ae 2640 rt cot ate of 820 Seite mengeco fet” Cheyer D2 2specer ‘WAC = 3640 -$12900)5264001 0176 1512090926400) 9092 O57) =1223 pace $3 Yoags Hlae Sapna inf Teco ein 1S rae 5 iw pucar Epc WACC= [1.01 x 0145] [0818 x 004] = 0.100333 IMRGE = 0102588 = [01 75) Re] [075 179) » DOW, Re 1423 pce ‘ayes Leng ipsa Pty 5. Pry We Suge xmas eet ad tof S106 00 Bah he teokand eat sanc a a 1,00 Tae wlese ot oes 183 pce leh pes cos eft 8 pce The xine 88 peat, Wha te Sas weigneroeccen Ci Sspecer Dot pacer 105000 (1-35) 0.155 = 5124000 Y= St4000~ 038» stam = 48.609, Sisgacn sirooo= sie Iss = (0158-0048 » (S170010S518,00 «(L-036)=017787 Siice=aresonstegn =o} T= foro mS OH -038H55. Date aone opt, oe ate cer ate op raph pl tae ot ‘evel ed ones ao ‘re ovr gap te WACC om orca ede eseey eon ‘wrter MM une un tor Bey ela nar ee sie ‘ved so anaes contol ase te tee ire here ‘Thess sold pte a ene Fare 155 mht Fethsk Refe ston 166 Saal aca spen sei earn Shane as tesco sac one” oi ier MEM in ang en yg is ‘mmc big 160 pecan St notes te manage smn o ‘Cisse panty ag te waa ee elo rea Sl sn ‘Seton doen coos Pts th cpa cpl suc e clings coe ap 6 Lg nC Se Fey {Pate isthe CFO of ener natal He wo ke ine Seb ai i of "em cose a the es ttt eligi‘pase ont es expr ea vas a tanh ofetenen capi nts, it guy rene a me ‘egy down? Abs wet Sans mages pp nnzethevoe ofo ‘Ts eeston ose ses wo lea beneath cost feats ah wees ‘erg cow ois inf pes oben of api sre hes he met Eup cn i ct Th en ot ‘Site i com nh cor feu en ol coca cans (coun op aponn coring othe rte ton)wd seree Fethskc Refet ction 16 ap 6 Fi Leni Se Py 9. gn ow fn oe ae ‘Theta eee eg pong sits of egies {ert smog senotng der nts fe we med. 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Gai race comping tn ine cil css ay pm PD Sashes pip Uae Pasi Ging valine Vb toocnee sta Spurn hPa teva es fc eng 572 Besnuit 5 Saas EBIT178500=(EBIT 01481, 79 000) 71 0, EBIT = $998,333 [ABC alloy fice th $08,000 ack EE wes tk cand peo Se ype neo S000 ake mtn ti pees Some es CET. ABC: Ry =Ry = S54 400544000 = 1217 pace Sz Raoda0) etal One Spt Neve ABC Eu = 80001 SVE Equs= S 00, Date ap 6 Le Cp Se Fy 94 Let Cony at Te wean sae con faa pret. Th5 S980, E0000 \¥=8:4o000n0= 8m; EB: 190900 Ses s64 5 sesonte 2 56508900 ‘Yp=S5.00, 900 EBIT(L-034)0 12, EBIT = 55655368 ‘apes -Rena Lng ip sma Pty ‘S9pecen Thecapente te tes 3 pret Whar be fmt lene co of Gon BAS pec BACCO DORE A420 OWA 13D ROSE Re (Re- 009)! )1-088) Re= 1! si pacar 97 Brace & Co expe EBIT be 100.00 ee ya acer The em ca ba Reve werannee? 3 ssa atic 2 S33 100000 (1-os1p020.¥= 845.00Boer Co, moc EIT S100 cy yx vt Th conto feta Be alone Sdn pce epcas es Wha [REC seaterraptans” Dies0 pace 2B ieetpecnt GE pecer Yorstooono-os1y0186 = 556535535 YW igsesassa3 0 Net aan = 80228. Te qs 1tys6t 2002635 S6L NOx) 0.31) =0 86 20 feesin2 3. $6100) $835 ~ 018660820125 250.031) 59. Sess a enges a EBIT 0570s er eves Tefen vce hs Renee Cuore veesiom a-saper-sna6e Nox Whenever tn cate oe ate lever sai fe roe tinnce mA az ident EnyCuhow Chapt. Cone ecupatRecbo ram Cv edaratte artes = a =! Sstudocu cxmpmny cote ergot et ©0000 gan)