Hardly had he arrived at the airport____he was told that the flight had been cancelled.A: thanB: whenC: beforeD: then
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A capital expenditure results in a debit to ( )A. an expense accountB. a capital accountC. a liability accountD. an asset account
Lucy has been a student there for nearly one and ______ half years.A、aB、anC、theD、/
KFP Co, a company listed on a major stock market, is looking at its cost of capital as it prepares to make a bid to buy a rival unlisted company, NGN. Both companies are in the same business sector. Financial information on KFP Co and NGN is as follows:NGN has a cost of equity of 12% per year and has maintained a dividend payout ratio of 45% for several years. The current earnings per share of the company is 80c per share and its earnings have grown at an average rate of 4·5% per year in recent years.The ex div share price of KFP Co is $4·20 per share and it has an equity beta of 1·2. The 7% bonds of the company are trading on an ex interest basis at $94·74 per $100 bond. The price/earnings ratio of KFP Co is eight times.The directors of KFP Co believe a cash offer for the shares of NGN would have the best chance of success. It has been suggested that a cash offer could be financed by debt.Required:(a) Calculate the weighted average cost of capital of KFP Co on a market value weighted basis. (10 marks)(b) Calculate the total value of the target company, NGN, using the following valuation methods:(i) Price/earnings ratio method, using the price/earnings ratio of KFP Co; and(ii) Dividend growth model. (6 marks)(c) Discuss the relationship between capital structure and weighted average cost of capital, and comment onthe suggestion that debt could be used to finance a cash offer for NGN. (9 marks)
Leafman Capital Purchases Josee Group Leafman Capital, a leading Canadian investment firm, announced today that it has completed its long-anticipated acquisition of Josee Group, a Paris-based hotel company. The deal has an esti-mated value of 350 million euros, according to Leafman Capital executives. The sale of the French-owned Josee Group to a Canadian firm has caused a great deal of con-troversy in France, the Josee Group owns 26 historic hotels in and around Paris, including the fa-mous Hotel Jean-Claude, which had hosted numerous prominent nineteenth-century French authors and political figures. Joseph Leafman, owner of Leafman Capital, announced that his firm would strive to retain the important historic heritage of the Hotel Jean-Claude but would make necessary renovations to modernize the heating and plumbing systems. In addition to the Hotel Jean-Claude, the Josee Group owns smaller hotels across France, including the Parisian Gateway and the Hotel Fanon, both considered among the finest examples of French architecture in the neoclassic style. Mr. Leafman said that his firm purchased the Josee Group as a means of diversifying its port-folio. He also plans to make additional purchase in Europe, which may include luxury hotels in Belgium, Germany, and Switzerland. Other assets recently purchased by Leafman Capital include high-rise apartment and office buildings in Thailand and the Philippines. According to the article, why has the sale of the Josee Group been considered controversial?A.It was sold for less than its estimated value B.Historic French properties were being sold to a foreign firm C.Employees of the Josee Group are expected to lose their jobs D.The sale was not made public until it had been finalized
discovered that my baggage had been lost. I didn’t have any choice but to wait at the airport for five hours while your employees tried to trace the whereabouts of my baggage. I left the airport without my belongings as I had an important meeting to attend. It has been one week, and I have not been contacted regarding my baggage. For this reason, I strongly feel that I should be compensated for the items that were lost. I hope to hear from your office ( )the week. Sincerely yours, NATHAN HALL A.within B.from C.since D.near
我们的重吊杆已经长时间不用了。（）A、Our derrick has been out of use for a long time.B、Our heavy derrick has been out of use for a long time.C、Our crane has been out of use for a long time.D、Our winch has been out of use for a long time.
