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Solution Manual for Principles of Corporate Finance 14th Edition by Richard Brealey, Stewart Myers, Verified Chapters 1 - 34, Complete .R279,71
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Solution Manual for Principles of Corporate Finance 14th Edition by Richard Brealey, Stewart Myers, Franklin Allen and Alex Edmans, All Chapters 1-34 || Latest Edition
Solution Manual for Principles of Corporate Finance 14th Edition by Richard Brealey, Stewart Myers, Franklin Allen and Alex Edmans, All Chapters 1-34 || Latest Edition
Solution Manual For Principles of Corporate Finance 14th Edition By Richard Brealey Stewart Myers Franklin Allen and Alex Edmans Complete Chapters 1-33 2024/2025.
The jvalues jshown jin jthe jsolutions jmay jbe jrounded jfor jdisplay jpurposes. jHowever, jthe janswers
jwerejderived jusing ja jspreadsheet jwithout jany jintermediate jrounding.
Answers jto jProblem jSets
1. a. real
b. executive jairplanes
c. brand jnames
d. financial
e. bonds
*f. investment jor jcapital jexpenditure
*g. capital jbudgeting jor jinvestment
h. financing
*Note jthat jf jand jg jare jinterchangeable jin jthe jquestion.
Est jtime: j01-05
2. A jtrademark, ja jfactory, jundeveloped jland, jand jyour jwork jforce j(c, jd, je, jand jg) jare jall jreal
jassets. jReal jassets jare jidentifiable jas jitems jwith jintrinsic jvalue. jThe jothers jin jthe jlist jare
jfinancial jassets,jthat jis, jthese jassets jderive jvalue jbecause jof ja jcontractual jclaim.
Est jtime: j01-05
3. a. Financial jassets, jsuch jas jstocks jor jbank jloans, jare jclaims jheld jby jinvestors.
jCorporations jsell jfinancial jassets jto jraise jthe jcash jto jinvest jin jreal jassets jsuch jas
jplantjand jequipment. jSome jreal jassets jare jintangible.
b. Capital jexpenditure jmeans jinvestment jin jreal jassets. jFinancing jmeans jraising jthe
jcashjfor jthis jinvestment.
c. The jshares jof jpublic jcorporations jare jtraded jon jstock jexchanges jand jcan jbe
jpurchasedjby ja jwide jrange jof jinvestors. jThe jshares jof jclosely jheld jcorporations jare
jnot jpublicly jtraded jand jare jheld jby ja jsmall jgroup jof jprivate jinvestors.
d. Unlimited jliability: jInvestors jare jresponsible jfor jall jthe jfirm‘s jdebts. jA jsole jproprietor
jhasjunlimited jliability. jInvestors jin jcorporations jhave jlimited jliability. jThey jcan jlose
jtheir jinvestment, jbut jno jmore.
Est jtime: j01-05
7. If jthe jinvestment jincreases jthe jfirm‘s jwealth, jit jincreases jthe jfirm‘s jshare jvalue. jMs.
jEspinozajcould jthen jsell jsome jor jall jthese jmore jvaluable jshares jto jprovide jfor jher
jretirement jincome.
Est jtime: j01-05
8. a. Assuming jthat jthe jencabulator jmarket jis jrisky, jan j8% jexpected jreturn
jonjthe jF&H jencabulator jinvestments jmay jbe jinferior jto ja j4% jreturn
jon jU.S.
government jsecurities, jdepending jon jthe jrelative jrisk jbetween jthe jtwo jassets.
b. Unless jthe jfinancial jassets jare jas jsafe jas jU.S. jgovernment jsecurities, jtheir jcost jof
jcapitaljwould jbe jhigher. jThe jCFO jcould jconsider jexpected jreturns jon jassets jwith
jsimilar jrisk.
Est jtime: j06-10
9. Managers jwould jact jin jshareholders‘ jinterests jbecause jthey jhave ja jlegal jduty jto jact jin jtheir
jinterests. j Managers jmay jalso jreceive jcompensation— jbonuses, jstock, jand joption jpayouts
j with jvalue jtied j(roughly) jto jfirm jperformance. jManagers jmay jfear jpersonal jreputational
jdamage jfrom jnot jacting jin jshareholders‘ jinterests. jAnd jmanagers jcan jbe jfired jby jthe jboard
jof jdirectors j(electedjby jshareholders). j If jmanagers jstill jfail jto jact jin jshareholders‘ jinterests,
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