Last Month, Standard Systems Analyzed the Project Whose Cash Flows

question 78

Multiple Choice

Last month, Standard Systems analyzed the project whose cash flows are shown below.However, before the decision to accept or reject the project took place, the Federal Reserve changed interest rates and therefore the firm's WACC.The Fed's action did not affect the forecasted cash flows.By how much did the change in the WACC affect the project's forecasted NPV? Note that a project's expected NPV can be negative, in which case it should be rejected.

• A) -$18.89
• B) -$19.88
• C) -$20.93
• D) -$22.03
• E) -$23.13

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Definitions:

Hostile Bidder

An entity attempting to acquire another firm against the wishes of the target company's management and board.

Friendly Suitor

A company or individual that makes a benign and often consensual offer to buy or merge with another company, as opposed to a hostile takeover.

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A strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Target Corporation

An American retail corporation, the eighth-largest in the United States, which operates a chain of discount stores offering various goods.