When discounting future dividends, use a 10% discount rate and a 38% tax rate.
When discounting future dividends, use a 10% discount rate and a 38% tax rate. Assume that stock market participants are unaware of the repurchase operation and that the additional debt is continuous and unchanging. 1) Which are UST’s main business risks? Consider them from a bondholder’s perspective. 2) After so many years of careful debt … Read more