finance problem

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this solution must be provided with the steps it took to solve via excel document! must show all steps!

a project generates net (after-tax) cash flows of $20 million every year for 4 years. the investment is $43 million. the tax rate is 40%. the firm has a target debt ratio of 40%. out of total equity, they will use $6,000,000 in preferred stock and the rest will be from retained earnings. • the firm’s current bonds have 5 years left to maturity, a coupon rate of 7% with annual coupons, a face value of $1000 and currently trade for $960. the before-tax cost on any new bonds will be the same as the yield to maturity on the current bonds. • preferred stock has a dividend of $4 with a price of $42. issue costs on preferred stock are $2. • to estimate the cost of retained earnings, the firm uses a beta of 1.3 with a risk-free rate of 4% and a market risk premium of 10%. use the weighted average cost of capital (wacc) to find the net present value (npv) of the project. for the wacc, carry work out to 4 decimal points.
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