4. In your Excel spreadsheet, create a new worksheet with a timeline for the projects expected cash...

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4. In your Excel spreadsheet, create a new worksheet with a timeline for the project’s expected cash flows.

a. Compute the tax rate as the four-year average of IBM’s annual income tax divided by annual earnings before tax.

b. Determine the expected free cash flows of the project.

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Fundamentals Of Corporate Finance

ISBN: 9781292018409

3rd Global Edition

Authors: Berk, Peter DeMarzo, Jarrad Harford

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