5. A firm begins the year with a Book Value of $10 million. During the year it...
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Question:
5. A firm begins the year with a Book Value of $10 million. During the year it generates $5 million in net profits. It paid $1 million in interest on its bank loan. It decides to pay $3 million in dividends. What is its new Book Value at the start of next year?
a) $11 million
b) $12 million
c) $15 million
d) $16 million
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