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Need to fill in the 4 blanks please. Complete row 22 of the table, filling in the cumulative net present value in each of the

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Need to fill in the 4 blanks please.

Complete row 22 of the table, filling in the cumulative net present value in each of the four years Note: The discounted values cash flows to the parent are rounded to the nearest dollar. Use these rounded values when calculating row (22). \begin{tabular}{|c|c|c|c|c|} \hline & Year 0 & Year 2 & Year 3 & Year 4 \\ \hline & 60,000 units & 60,000 units & 120,000 units & 120,000 units \\ \hline & S$450 & S$450 & S$460 & S$480 \\ \hline & S$300 & S$300 & $350 & $360 \\ \hline & S$18,000,000 & S$18,000,000 & S$42,000,000 & S$43,200,000 \\ \hline ense & S$1,000,000 & S$1,000,000 & S$1,000,000 & S$1,000,000 \\ \hline \multirow[t]{2}{*}{ reciation) } & S$2,000,000.00 & S$2,000,000.00 & S$2,000,000.00 & S$2,000,000.00 \\ \hline & S$22,000,000 & S$22,000,000 & S$46,000,000 & S$47,200,000 \\ \hline : Subsidiary & $5,000,000 & $5,000,000 & S$9,200,000 & S$10,400,000 \\ \hline subsidiary & S$4,000,000 & S$4,000,000 & S$7,360,000 & S$8,320,000 \\ \hline idiary (12) + & S$6,000,000 & S$6,000,000 & S$9,360,000 & S$10,320,000 \\ \hline tiary & S$6,000,000 & S$6,000,000 & S$9,360,000 & S$10,320,000 \\ \hline nitted Funds & S$600,000 & S$600,000 & S$936,000 & S$1,032,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline : Subsidiary & & $5,000,000 & & S$5,000,000 & & S$9,200,000 & & S$10,400,000 \\ \hline @ 20.00% & & S$1,000,000 & & S$1,000,000 & & S$1,840,000 & & S$2,080,000 \\ \hline subsidiary & & S$4,000,000 & & S$4,000,000 & & S$7,360,000 & & S$8,320,000 \\ \hline idiary (12) + & & S$6,000,000 & & S$6,000,000 & & S$9,360,000 & & S$10,320,000 \\ \hline fiary & & S$6,000,000 & & S$6,000,000 & & S$9,360,000 & & S$10,320,000 \\ \hline nitted Funds & & S$600,000 & & S$600,000 & & S$936,000 & & S$1,032,000 \\ \hline \multirow[t]{3}{*}{ Withholdings } & & S$5,400,000 & & S$5,400,000 & & S$8,424,000 & & S$9,288,000 \\ \hline & & & & & & & & S$12,000,000 \\ \hline & & $0.50 & & $0.50 & & $0.50 & & $0.50 \\ \hline(16)+(17)] & & $2,700,000 & & $2,700,000 & & $4,212,000 & & $10,644,000 \\ \hline vs @ 15.00% & & $2,347,826 & & $2,041,588 & & $2,769,458 & & $6,085,742 \\ \hline \multirow[t]{2}{*}{ ent by Parent } & $10,000,000 & & & & & & & \\ \hline & $[ & & $ & & $ & & $ & \\ \hline \end{tabular} Suppose that Kittle Co. is a U.S. based MNC that is considering setting up a subsidiary in Singapore. Kittle would like this subsidiary to produce and sell guitars locally in Singapore, and needs assistance with capital budgeting. The duration of this project is four years, with an initial investment of S\$20,000,000 (Singapore dollars). Finally, Kittle managers have provided you with key data to estimate the net present value of the project. In particular, four key insights are shared Kittle managers. 1. The forecasted exchange rate of the Singapore dollar over the four-year period is $0.50. 2. The salvage value is $12,000,000, which will be paid by the Singapore government in exchange for ownership of the subsidiary after four years. 3. The required rate of return is 15.00%. The following table, in rows (17)-(21), shows how these factors influence the capital budgeting analysis. Complete row 22 of the table, filling in the cumulative net present value in each of the four years Note: The discounted values cash flows to the parent are rounded to the nearest dollar. Use these rounded values when calculating row ( 22 ). 10. Before-Tax Earnings of Subsidiary S$5,000,000S$5,000,000S$9,200,000 (3)-(9) 11. Host Government Tax @ 20.00\% S$1,000,000 S$1,000,000 S$1,840,000 12. After-Tax Earnings of Subsidiary $4,000,000 S$4,000,000 S$7,360,000 (10) (11) 13. Net Cash Flow to Subsidiary (12) + S$6,000,000 S$6,000,000 S$9,360,000 (8) 14. S\$ Remitted by Subsidiary S$6,000,000 S$6,000,000 S$9,360,000 15. Tax Withholding of Remitted Funds $600,000 S$600,000 S$936,000 10.00% 16. S\$ Remitted After-Tax Withholdings $5,400,000 $5,400,000 S$8,424,000 17. Salvage Value 18. Exchange Rate of S$ 19. Cash Flows to Parent [(16)+(17)] $0.50 $0.50 $2,700,000 $2,700,000 $0.50 X(18) 20. PV of Parent Cash Flows @15.00\% $2,347,826 $2,041,588 $2,769,458 21. Initial U.S. \$ Investment by Parent $10,000,000 22. Cumulative NPV $ $ $ $4,212,000

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