EBIT, . . | Nodett | Mordett | ||
EPS (1 ), . | , . . | EPS(600000 ), . | ||
2,00 | ||||
12,00 | ||||
22,00 | ||||
12,00 | ||||
8,165 | ||||
1,0 | 1,0 | 2,0 |
16.7. Mordett , Nodett Somdett, 50 . . , 34%. Mordett , ? Nodett Corporation ( 1 ) 50 . . , ? ?
. 50 . . Mordett "" 17 . . Mordett , , 83 . . (66 . . + 17 . .). Mordett 50 . ., 33 . ., 17 . . 50 . ., Nodett 17 . . 66 . 83 . 602410 (50 . ./ 83 . ), 397590 .
16.8. , , ?
. .
16.9.
? . .
16.10. - ?
. , , . .
|
|
16.11. ?
. . , , , .
16.12. ?
.
16.13. , ( ) Global Connections Corporation 20%, 30%, . APV NPV , . FTE WA , , NPV, APV.
. APV NPV , . 30% APV , " ", , , 0,3, 0,09 APV. , APV ANPV
APV= 105 . ./0,91 =115,4 . .
ANPV = PV + PV " "
= 5 . . +10,4 . . =15,4 . .
FTE d = 0,30/0,70 = 0,429 kg 0,1060.
CFS = -
= 10,5 . . - 0,56 D
PV :
= CFS I k, = 99,06 . . - 0,52832) = 99, . . - 0,5283 0.429
= 99,06 . . - 0,2 == 80,77 . .
D = 0,429 = 34,63 . .
67,37 . . , , NPV 15,4 . ., APV.
WACC WACC:
WACC= 0,1060,70 +0,70,80,30 =0,0910
NPV ( ), wacc 100 . . :
NPV= 10,5 . ./0,0910 - 100,0 . . =115,4 . . -100 . .
=15,4 . .
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M 16.7-16.8
" "
1. Divido Corporation 20 . . 16.7-16.8 20 . .
. ? .
b. , EBIT Divido 20 . ., 12 . ., 4 . . "" EPS ( ). , , ?
2. Plentilease Nolease . , Plentilease , , Nolease , , . ( ) .