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Information on assumed capital investments in the current year for Google and Apple follow: $ billions Google Apple Initial investment ...... $(2.42) $(2.12) Required internal

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Information on assumed capital investments in the current year for Google and Apple follow: $ billions Google Apple Initial investment ...... $(2.42) $(2.12) Required internal rate of return on investmer 15% 10% Useful Life 7 years 10 years Annual Cash Flows ? ? Required 1 Using the information provided, calculate the amount of annual cash flows that Google and Apple must earn from these projects to achieve their respective internal rate of return. 2 Locate and access Google's and Apple's financial statements for the fiscal year ended 2017 (also known as, annual reports or Form10-K). Refer to Google's 2017 financial statements and identify the actual amount that Google invested in capital assets for the year 2017. Refer to Apple's 2017 financial statements and identify the actual amount that Apple invested in capital assets for the year 2017. a. Which company invested more in capital assets in 2017. Hint: The SEC maintains the EDGAR (Electronic Data Gathering, Analysis, and Retrieval) database at SEC.gov for U.S. filers. The Form 10-K is the annaul report form for most companies. You may access the annual reports directly from the company's website as well (usually under Investor relations)

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