Phillips Industries runs a small manufacturing operation. For this fiscal year, it expects real net cash flows
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Phillips Industries runs a small manufacturing operation. For this fiscal year, it expects real net cash flows of $295,000. The company is an ongoing operation, but it expects competitive pressures to erode its real cash flows at 3.5 percent per year in perpetuity. The appropriate real discount rate for the company is 4 percent. All cash flows are received at year-end. What is the present value of the cash flows from the company’s operations?
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Corporate Finance
ISBN: 9781260772388
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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