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- This topic has 245 replies, 55 voices, and was last updated 6 years ago by joseway1979.
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- December 8, 2017 at 4:57 pm #421990
I did four years because the last paragraph mentioned about the directors not being happy with the current method of being appraised over 4 years..
December 8, 2017 at 4:57 pm #421993i got 2.2 M for my nominal npv and 960K for the real rate npv and 12.37 for the wacc
December 8, 2017 at 4:58 pm #421994Yes I went with economic and transaction as the question stated that no balance would be due (i.e. payable balance) at year end so eliminated translation risk.
December 8, 2017 at 4:59 pm #421996I did 4 years as tax was payable in year of calculation
December 8, 2017 at 4:59 pm #421997I doubt they would discredit you for writing incorrect currencies, doesn’t matter as long as the value is correct i assume
December 8, 2017 at 5:01 pm #421998@limweikiat said:
Hey guys, what’s the answer for the commercial paper question?
It was something like: 40 days, 365 days a year, $10000 $9967as I remember there was 45 days, 9938 and 360 days, so:
10000-9938=62
62/9938=0.624% for 45 days
360/45=8
1.00624^8=5.1%
(the figure may be a little different but the calculation was like this)December 8, 2017 at 5:02 pm #421999Exam was ok apart from two or three MCQs I think the WACC for question 31 is something like 11%
December 8, 2017 at 5:03 pm #422000Yes I got the same
December 8, 2017 at 5:03 pm #422001I was going to do 4 years aswell but into said that from year 5 the cash flows are expected to continue at maximum capacity into the future. Does this not imply a perpetuity beginning in year 5?
My wacc was 11.8%
I always say I’m not gonna come on this site after the exam and get depressed that my answers were not like anyone else’s but just can’t help it…..
If I fail I hope it’s a good fail and not 40 bloody 9.December 8, 2017 at 5:04 pm #422002I think 4
December 8, 2017 at 5:05 pm #422003That is what I got
December 8, 2017 at 5:08 pm #422005The same question is also interesting for me. i calculated for 10 years. There wasnt enough space in my answer blank for 10 years but I did it))))
Dont know right or not)) Was it suppose to be for 4 years??December 8, 2017 at 5:09 pm #422006Yes, Perpetuity after year 5 is exactly what I thought too. But did it for 4 years anyways.
December 8, 2017 at 5:09 pm #422007Nice of them to put in the general rate of inflation of 4% to try and throw us off! Spent ages trying to figure out if i should adjust the discount factors. But didn’t.
December 8, 2017 at 5:10 pm #422008me too, econmic and transaction. economic becasue it will face difficulty in paying
December 8, 2017 at 5:18 pm #422010But because of the inflation each years cashflow would be different so i guess its not perpetuity
December 8, 2017 at 5:19 pm #422011And also, even more frustrating when you do practice questions they quote the share price as ex-div which is what you need for the questions. Whereas in this paper they decided to quote in cum div? I assume you just minus the dividend to be paid from the share price to get the ex-div? Anyone else do this
December 8, 2017 at 5:21 pm #422012i Think The Exam Was Slightly Difficult ,May Be i did Silly Mistakes Such As MCQ 1 Selected Closing Rec Balances Etc etc ……….. Got Wacc 12.37 % , But Is Wrong ……. On Dividend policy , I Just Explained Factors Affecting Div Policy In the Way question Asked ( though It may be wrong ) ……… Npv done 4 yrs , used fishers formula for real rate…… Got Around 24000 and 15000 like that ………
On 3rd part – did Profit maximisation vs wealth maximisation as Conflict … dont know for sure /…………
My MCQ were
1.C
2.C
3.A
4.A
5.A
6.C
7.B
8.D
9.C
10.D
11.C
12.B
13.B
14.C
15.A
16.C
17.C
18.B
19.A
20.C
21.C
22.D
23,C
24.D
25.D
26.B
27.C
28.A
29. A
30. BHope I did 17-18 Mcqs Right To Get Me 50 ………. Although 1st one was a mess , dont knw what i thought .
December 8, 2017 at 5:23 pm #422013Yes question was all cum div you had to exclude the dividends paid to make it ex div and use in question
December 8, 2017 at 5:26 pm #422014I agree re cum div subtract the div just paid.
I put A for MCQ question 1. I was fairly sure I was right on that but starting to doubt my own name nowDecember 8, 2017 at 5:27 pm #422015Wasnt it closing receivable?? I choosed closing/sales*365=57. with average receivables it made 72 I think. I choosed 57. Am i right?? if not, why?
December 8, 2017 at 5:28 pm #422017Which question is about cum div???
December 8, 2017 at 5:29 pm #422018does anyone remember the answer for the ROCE:
smth like “company should not undertake the projects with ROCE less then the average of the company” ?December 8, 2017 at 5:33 pm #422020@aagshin said:
Wasnt it closing receivable?? I choosed closing/sales*365=57. with average receivables it made 72 I think. I choosed 57. Am i right?? if not, why?I suppose it should be the average receivables. It’s more logic, the closing balance we take when we don’t have the information about the average.
December 8, 2017 at 5:34 pm #422021Was That Answer 11.9 % On Div Growth And 22.7 % Just Above that ???????Similarly Is Most Risky Answer A?????????????
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