Additional:Calculate $2020$ and $2021$ net operating working capital $($NOWC$)$ and $2021$ free cash flow $($FCF$).$ Assume the firm has no excess cash.

NOWC$2020$: $ fill in the blank

thousand

NOWC$2021$: $ fill in the blank

thousand

FCF$2021$: $ fill in the blank

thousand

If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on taxes paid by the company's shareholders?

If Laiho increased its dividend payout ratio, the firm would pay

corporate taxes and the company's shareholders would pay

taxes on the dividends they would receive.

Assume that the firm's after$-$tax cost of capital is $9\mathrm{.}5\%.$ What is the firm's $2021$ EVA?

$ fill in the blank

thousand

Assume that the firm's stock price is $$24$ per share and that at year$-$end $2021$ the firm has $10$ million shares outstanding. What is the firm's MVA at year$-$end $2021?$

$ fill in the blank

thousand