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The Company is Ulta Beauty The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm's balance sheet.) The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment's cost. The annual EBIT for this new project will be 18% of the project's cost. The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project. The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate. Your calculations for the amount of property, plant, and equipment and the annual depreciation for the project Your calculations that convert the project's EBIT to free cash flow for the 12 years of the project. The following capital budgeting results for the project o Net present value o Internal rate of return o Discounted payback period. Your discussion of the results that you calculated above, including a recommendation for acceptance or rejection of the project Once again, you may embed your Excel spreadsheets into your document. Be sure to follow APA standards for this project. FISCAL YEAR ENDED in thousands, except per share, per square foot and store count detal Income Statement February 2020 February 2, 2019 . Costess Gross profile Selling general and administrative expenses U Operating income SOLOS Incore before income 5 5 $ Net Net Income per common share Duted Weighted were common shares tanding Diluted Other Operating Data: Compartile sales incre Number of stores and of Total square footage and of Total que footage perso Average total area Capital expenditures Depreciation and mortation Repurchase of common shares 5 318.400 3 3 $ $ $ Balance Sheet Data: Cash and cash equivalent Short-term investment Working capital Property and equipment.net -0.000 VOUS 22.0 20. Operating 2004 FISCAL YEAR ENDED (1) In thousands, except per share, per square foot and store count data) Income Statement: Net sales Cost of sales Gross profit Selling, general and administrative expenses Pre-opening expenses Operating income Interest income, net Income before income taxes Income tax expensere Net income Net income per common share: Basic Diluted Weighted average common shares outstanding: Basic Diluted February 1, 2020 $ 7,398,068 4,717,004 2,681,064 1,760,716 19.254 901,094 (5.056 906,150 200.205 705,945 February 2, 2019 $ 6,716,615 4,307,304 2,409,311 1,535,464 19,767 854,080 (5,061 859,141 200.582 $ 658,559 February 3, 2018 $ 5,884,500 3.787,69 2,096,80 1,287,234 24,284 785,29 (1.568 786,859 231.620 555,23 $ 11.00 9.00 12.21 12.15 10.94 8.96 57,840 58,105 59.864 60,181 61,55 61.91 8.1% 1,174 Other Operating Data: Comparable sales increase Number of stores end of year Total square footage end of year Total square footage per store Average total square footage Capital expenditures Depreciation and amortization Repurchase of common shares 5.0% 1,254 13,193,076 10,521 12,804,988 298,534 295,599 680,979 12,337,145 10,509 11,893,413 319,400 279,472 616,194 11.09 1,074 11,300,920 10,52 10,742,874 440,714 $ $ 252,7131 $ $ 367,581 Display Settings The Company is Ulta Beauty The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm's balance sheet.) The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment's cost. The annual EBIT for this new project will be 18% of the project's cost. The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project. The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate. Your calculations for the amount of property, plant, and equipment and the annual depreciation for the project Your calculations that convert the project's EBIT to free cash flow for the 12 years of the project. The following capital budgeting results for the project o Net present value o Internal rate of return o Discounted payback period. Your discussion of the results that you calculated above, including a recommendation for acceptance or rejection of the project Once again, you may embed your Excel spreadsheets into your document. Be sure to follow APA standards for this project. FISCAL YEAR ENDED in thousands, except per share, per square foot and store count detal Income Statement February 2020 February 2, 2019 . Costess Gross profile Selling general and administrative expenses U Operating income SOLOS Incore before income 5 5 $ Net Net Income per common share Duted Weighted were common shares tanding Diluted Other Operating Data: Compartile sales incre Number of stores and of Total square footage and of Total que footage perso Average total area Capital expenditures Depreciation and mortation Repurchase of common shares 5 318.400 3 3 $ $ $ Balance Sheet Data: Cash and cash equivalent Short-term investment Working capital Property and equipment.net -0.000 VOUS 22.0 20. Operating 2004 FISCAL YEAR ENDED (1) In thousands, except per share, per square foot and store count data) Income Statement: Net sales Cost of sales Gross profit Selling, general and administrative expenses Pre-opening expenses Operating income Interest income, net Income before income taxes Income tax expensere Net income Net income per common share: Basic Diluted Weighted average common shares outstanding: Basic Diluted February 1, 2020 $ 7,398,068 4,717,004 2,681,064 1,760,716 19.254 901,094 (5.056 906,150 200.205 705,945 February 2, 2019 $ 6,716,615 4,307,304 2,409,311 1,535,464 19,767 854,080 (5,061 859,141 200.582 $ 658,559 February 3, 2018 $ 5,884,500 3.787,69 2,096,80 1,287,234 24,284 785,29 (1.568 786,859 231.620 555,23 $ 11.00 9.00 12.21 12.15 10.94 8.96 57,840 58,105 59.864 60,181 61,55 61.91 8.1% 1,174 Other Operating Data: Comparable sales increase Number of stores end of year Total square footage end of year Total square footage per store Average total square footage Capital expenditures Depreciation and amortization Repurchase of common shares 5.0% 1,254 13,193,076 10,521 12,804,988 298,534 295,599 680,979 12,337,145 10,509 11,893,413 319,400 279,472 616,194 11.09 1,074 11,300,920 10,52 10,742,874 440,714 $ $ 252,7131 $ $ 367,581 Display Settings