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- UID
- 223415
- 帖子
- 346
- 主题
- 18
- 注册时间
- 2011-7-11
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- 2014-7-31
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5#
发表于 2011-7-11 19:46
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If the company will finance the fixed assets with 40% debt, the firm's cap structure will effective change. If it currently has 30% debt, after the fixed asset increase, cap structure will change to 35% debt/65% equity. Keep in mind they have a 50% debt target ratio, so the firm will borrow more to turn that 35% to 50%.
1) To calculate FCFE with target ratios, you would use a different formula:
FCFE = NI - (1-DR)*(FC Inv-Dep) - [(1 - DR)*(WC Inv)], of course DR is the target d/a ratio
2) I'm not sure about this one, but I would use 50% personally |
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