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The Financial Management Environment
Interest Rates and the Required Rate of Return
28 other sections not shown
12 percent 20 percent accounts receivable after-tax cash altemative annuity bank beneﬁts beta bondholders bonds capital budgeting capital structure cash conversion cycle cash dividends cash ﬂows cash inﬂows cash outﬂows CFBT Chapter common equity common stock CONCEPT REVIEW QUESTIONS consider corporate cost of capital current assets decisions depreciation determine discount rate discussed dollar eamings effective annual efﬁcient employed Equation estimate exchange expected retum factors ﬁnancial management ﬁnancial markets ﬁnancing ﬁnn ﬁnn’s ﬁrm ﬁrm’s ﬁrst funds future value increase incremental inﬂation initial investment intemal rate interest rate inventory investors issue Key Idea LEARNING GOAL loan market portfolio market price market value maturity million operating opportunity cost option P/E ratio payment period preferred stock present value rate of retum ratio required rate required retum risk premium risk-free rate risky sell short-term speciﬁc standard deviation stockholders Table tax rate total assets yield yield to maturity