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Category > Business & Finance Posted 30 Apr 2017 My Price 7.00

The Patrick’s company’s

The Patrick’s company’s yearend balance sheet is shown below. Its cost of common equity is 16%, its before tax cost of debt is 13%, and its marginal tax rate is 40%. Assume that the firm’s long-term debt sells par value. The firm’s total debt, which is the sum of the company’s short-term debt and long-term debt, equals $1,152. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Calculate Patrick’s WACC using market-value weights.

ASSET Liabilities, and Equity

Cash $130 Acc. payable and accruals $10

Accounts receivable 240 Short-term debt $52

Inventories 360 Long-term debt $1,100

Plant and equipment, net 2,160 Common equity 1.728

 

Total assets 2,890 Total liabilities and equity$2,890

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Status NEW Posted 30 Apr 2017 09:04 AM My Price 7.00

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