Consider a Project of the Cornell Haul Moving Company,the Timing

question 4

Multiple Choice

Consider a project of the Cornell Haul Moving Company,the timing and size of the incremental after-tax cash flows (for an all-equity firm) are shown below in millions: The firm's tax rate is 34 percent; the firm's bonds trade with a yield to maturity of 8 percent; the current and target debt-equity ratio is 2; if the firm were financed entirely with equity,the required return would be 10 percent. What is the levered after-tax incremental cash flow for year 4?

• A)$281,704,000
• B)$465,152,000
• C)−$194,848,000
• D)$460,796,000

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