Applied Mergers and Acquisitions. Robert F. Bruner

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computed as EBIAT divided by net assets (i.e., total assets less current liabilities).

      18 18. The dividend payout ratio is computed as dividends divided by earnings.

      19 19. The hypothetical bond rating is inferred from Value Line’s rating of financial stability. The after-tax cost of debt is associated with that bond rating as of early 1991.

      Конец ознакомительного фрагмента.

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