Question: Please show excel file with formulas 2. GS develops and markets video games. GS has a major new project. The following table gives the expected

Please show excel file with formulas

Please show excel file with formulas 2. GS develops and markets video

2. GS develops and markets video games. GS has a major new project. The following table gives the expected free cash ows, exclusive of nancing and dividends. Year!) Year] Year2 Year-3 Year-1 Year Fiee Cash Flow M} 1D 15B 1'5 3D 11\".] 5D Year D is the year before launch, and the negative $IDM repres-ts the development costs. Year 1 is the launch year. A new version will be developed in Year 3 for release in Year 4. The video game will be discontinued after Year :1. GS plans to nance the project by issuing a bond. The bond pays 7% interest in each of Years '1] to 5. '33 will repay the principal and discontinue the game at the end of Year 5. Working capital in years {I to 5 should be nonnegative. '33 will issue dividends D: in Years t=1 to 5. The net present value of the project is 5'1 13: 5'3 5'4 5'5 + +{1+r}3+[1+r)'1+{1+r}5 \"PF: [1+r} {1+r}= For discounting purposes, the interest rate, r, for CS is 113%. In addition, GS wants to maintain a minimum dividend payment of $113M for each of the years 1 to 5. (33 needs to decide on the amount of the bond to issue [in $1391] at the beginning of Year 1'] and the dividend policy {in $M) in Years 1 to 5 to maximise NPV. Treat years as nodes and assume that all activity happens at the beginning of each year

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