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Second Round (of 2 rounds): Shares issued = .15625 x 23,703,704 = 3,703,704 Share Price = $1,000,000/3,703,704 = $.27 per share Pre-money Valuation = $.27 x 20,000,000 = $5,400,000 Post-money Valuation = $.27 x 23,703,704 = $6,400,000 Founder % between 2nd round & exit = 2,000,000/23,703,704 = 8.4375% 1st round investor % between 2nd round & ...
29 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 839 | Lượt tải: 0
Frontmatter Declarations State Securities Disclosures Offering Summary Fund Overview Executive Summary Summary of Terms
25 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 831 | Lượt tải: 0
A momentous event in the history of world financial systems. z Currently more than 300 million Europeans in 22 countries are using the common currency on a daily basis. z In May 2004, 10 more countries joined the European Union and adopt the euro. z The “transaction domain” of the euro may become larger than the U.S. dollar’s in the near fu...
10 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 843 | Lượt tải: 0
Since 1982 the U.S. has experienced continuous deficits on the current account and continuous surpluses on the capital account. z During the same period, Japan has experienced the opposite.
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The taxable income of Harrold Schwarz, an Ontario resident, is $63,000. Calculate Schwarz’s (a) dollar tax liability, (b) average tax rate, and (c) marginal tax rate. (a) Dollar tax liability = [Federal] .17(32,000) + .24(31,000) + .29(0) [Ontario] + .0637(30,004) + .0962(29,996) +.1116(3,000)=18,012 (b) Average tax rate = 18,012/63,000 = 28...
34 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 1069 | Lượt tải: 0
More on Standardized Statements 3. Did the firm’s NP&E go up or down? Obviously, it went up, but so did total assets. In fact, looking at the standardized statements, NP&E went from 61.2% of total assets to 59.6% of total assets. 4. If we standardized the 2000 common size numbers by dividing each by the 1999 common size number, we get a combined ...
35 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 929 | Lượt tải: 0
Given a sales forecast and an estimated profit margin, what addition to retained earnings can be expected? Let: S = previous period’s sales g = projected increase in sales PM = profit margin b = earnings retention (“plowback”) ratio The expected addition to retained earnings is: S(1 + g) PM b This represents the level of internal fi...
40 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 996 | Lượt tải: 0
Benjamin Franklin died on April 17, 1790. In his will, he gave 1,000 pounds sterling to Massachusetts and the city of Boston. He gave a like amount to Pennsylvania and the city of Philadelphia. The money was paid to Franklin when he held political office, but he believed that politicians should not be paid for their service(!). Franklin originall...
27 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 892 | Lượt tải: 0
Annuity Present Value Suppose you need $20,000 each year for the next three years to make your tuition payments. Assume you need the first $20,000 in exactly one year. Suppose you can place your money in a savings account yielding 8% compounded annually. How much do you need to have in the account today? (Note: Ignore taxes, and keep in mind t...
31 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 947 | Lượt tải: 0
How about another one? Assume you have the following information. Seagrams bonds have a $1000 face value The promised annual coupon is $100 The bonds mature in 20 years The market’s required return on similar bonds is 12% 1. Calculate the present value of the face value = $1000 [1/1.1220 ] = $1000 .10366 = $103.66 2. Calculate ...
39 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 963 | Lượt tải: 0