Luxury Resorts Corp. is an unlevered firm with expected annual earnings before taxes of $157.31 million next year. After that, EBIT will increase by 3.12% every year forever. The current required rate of return on the firm's equity is 11.59% and the firm distributes all its earnings as dividends at the end of each year. There are 25 million common shares outstanding and the firm's tax rate is 21%. The firm is planning a recapitalization under which it will issue $175.5 million perpetual 6.75% debt and use the proceeds to buy back shares. What is the new number of shares after the stock repurchase? Group of answer choices

He management's discussion and analysis (md& a) required in general purpose federal financial reporting is different than that required by gasb of state and local governments in that: a. it includes information about the agency's performance goals and results in addition to financial activities. b. it is outside the general purpose federal financial report and is optional, not required. c. it is a part of the basic financial statements and, as a result, it is audited along with the financial statements. d. there are no significant differences.

Lambert manufacturing has $100,000 to invest in either project a or project b. the following data are available on these projects (ignore income taxes.): project a project b cost of equipment needed now $100,000 $60,000 working capital investment needed now - $40,000 annual cash operating inflows $40,000 $35,000 salvage value of equipment in 6 years $10,000 - both projects will have a useful life of 6 years and the total cost approach to net present value analysis. at the end of 6 years, the working capital investment will be released for use elsewhere. lambert's required rate of return is 14%. the net present value of project b is:

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.