Question
Milton forecasts annual free cash flow of 8.7 million euros. Its tax rate is 35%; its zero-debt cost of capital is 15%. Milton is in
Milton forecasts annual free cash flow of 8.7 million euros. Its tax rate is 35%; its zero-debt cost of capital is 15%. Milton is in debt to the tune of 22.8 million euros and wants to keep its debt level constant. What is Milton's value in the presence of indebtedness?
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The Handbook Of Municipal Bonds
Authors: Frank J. Fabozzi, Sylvan G. Feldstein
1st Edition
0470108754, 9780470108758
