1. What is the total value of a corporation? Who has claims on this value? 2. What...

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1. What is the total value of a corporation? Who has claims on this value?
2. What are nonoperating assets? How can their value be estimated?
You have been hired as a consultant to Kulpa Fishing Supplies (KFS), a company that is seeking to increase its value. The company’s CEO and founder, Mia Kulpa, has asked you to estimate the value of two privately held companies that KFS is considering acquiring. But first, the senior management of KFS would like for you to explain how to value companies that don’t pay any dividends. You have structured your presentation around the following questions:

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