Exhibit 16 -Refer to Exhibit 16 $9.64 \% \quad \$ 497,925$

question 25

Short Answer

Exhibit 16.2
VanMannen Foundations, Inc. (VF) is a zero-growth company that currently has zero debt, and it has the data shown below. Now the company is considering using some debt, moving to the market value capital structure indicated below. The money raised would be used to repurchase stock. It is estimated that the increase in risk resulting from the additional leverage would cause the required rate of return on equity to rise somewhat, as indicated below. $$\begin{array} { l c } \text { EBIT } = & \$ 80,000 \mathrm { New } \text { Debt } / \text { Value } =&20\% \\\text { Growth } = & 0 \% \text { New Equity/Value } =&80\% \\\text { Orig cost of equity, } r _ { s } = & 10.0 \% \text { No. of shares } =&10,000 \\\text { New cost of equity } = r _ { s } = & 11.0 \% \text { Price per share } =&\$48.00 \\\text { Tax rate } = & 40 \% \text { Interest rate } = r _ { d } =&7.0\%\end{array}$$
-Refer to Exhibit 16.2.If this plan were carried out,what would be VF's new WACC and its new value of operations? WACC Value a. $9.64 \% \quad \$ 497,925$
b. $9.83 \% \quad \$ 507,884$
c. $10.03 \% \quad \$ 518,041$
d. $10.23 \% \quad \$ 528,402$
e. $10.74 \% \quad \$ 538,970$

Identify the emergence periods of major primate groups and their evolutionary significance.

Recognize the role and characteristics of the placenta in mammalian development.

Understand the adaptations and lifestyle changes in primates leading to modern humans, including tool use and dietary shifts.

Recognize the functional anatomy of primates, including features like the foramen magnum indicative of locomotion styles.

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Definitions:

Coccyx

The coccyx, commonly known as the tailbone, is the small bone at the base of the vertebral column that is composed of fused vertebrae.

Pia Mater

The delicate inner layer of the meninges that closely covers the brain and spinal cord, protecting the central nervous system.

Arbor Vitae

Refers to the "tree of life" arrangement of white matter in the cerebellum that facilitates cerebellar connections.

Corpus Callosum

A large band of neural fibers connecting the two cerebral hemispheres, facilitating communication between them.