Gestion de La Informacion Financiera
Fundamentals of Financial Mangement,Estados Unidos: Editorial The Dryden Press,6a ed Lancaster Engineering Inc. (LEI) has the following capital structure, which it considers to be optimal: Debt 25% Prefered stock 15 Common equity 60 —- 100% LEI’s expected net income this year is $34,285,72; its establish dividend payout ratio is 30 percent; its federal-plus-state tax rate is 40%; and investors expect earnings and dividends to grow at a constant rate of 9 percent in the future.
LEI paid a dividend of $3. 60 per share last year and its stock currently sells at a price of $60 per share. LEI can obtain new capital in the following ways: Common: New common stock has a flotation cost of 10% for up to $12,000 of new stock and 20% for all common over $12,000. Preferred: New preferred stock with a dividend of $11 can be sold to the public at a price of $100 per share.
IOS Schedule for Lancaster Engineering Inc. e. Using the graph constructed in Part d, which projects should LEI accept? Why? Elegimos los proyectos A, B y C ya que tienen un rendimiento por encima del WACC, con ello no ponemos en riesgo nuestra inversion y con un menor numero de proyectos obtenemos mayor tasa de retorno.