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Category > Accounting Posted 04 Aug 2017 My Price 5.00

JLChem Corporation

11.    JLChem Corporation, a chemical manufacturing firm with changing investment opportunities, is considering a major change in dividend policy. It currently has 50 million shares outstanding and pays an annual dividend of $2 per share. The firm current and projected income statement are provided below (in millions):

 

Current

Projected         for    Next Year

EBITDA

$1,200

$1,350

– Depreciation

$200

$250

EBIT

$1,000

$1,100

– Interest expense

$200

$200

EBT

$800

$900

– Taxes

$320

$360

Net income

$480

$540

 

The firm’s current capital expenditure is $500 million. It is considering five projects for the next year:

Project

Investment

Beta

IRR  (Using Cash Flows to Equity)

A

$190 mil

0.6

12.0%

B

$200 mil

0.8

12.0%

C

$200 mil

1.0

14.5%

D

$200 mil

1.2

15.0%

 

 

E

$100 mil

1.5

20.0%

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Aug 2017 08:08 PM My Price 5.00

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