• 2022-06-05
    TheHoffmanCardCo.earned£1.50persharelastyear.Investmentinfixedcapitalwas£0.80pershare,anddepreciationwas£0.30.Investmentinworkingcapitalwas£0.20pershare.Hoffmanexpectsearningstogrowat15%peryearforthenextfiveyearsandthatinvestmentinfixedcapital,depreciation,andinvestmentinworkingcapitalwillgrowatthesamerate.Afterfiveyears,thegrowthinearningsandworkingcapitalrequirementswilldeclinetoastable5%peryear,andinvestmentinfixedcapitalanddepreciationwilloffseteachother(i.e.,theywillbeequal).Hoffman'stargetdebtratiois30%.Theshareholdersrequireareturnof17%ontheirinvestmentduringthehigh-growthstageandareturnof10%ontheirinvestmentduringthestablestage.TheFCFEinYear6andthevaluepershareofHoffman'scommonstockareclosestto:
    FCFEinYear6Sharevalue
    A: £2.03£31.08
    B: £2.88£31.08
    C: £2.88£57.60
  • B

    举一反三

    内容

    • 0

      从所给的选项中选择恰当的句子补全对话(此题有两个多余选项)。<br/>A.How’sthatgoing?<br/>B.Wouldyouliketocomewithus?<br/>C.Whenandwhereshallwemeet?&nbsp;<br/>D.Seeyouthen.<br/>E.Whereareyougoingtohaveit?&nbsp;<br/>F.Wecangotherebybike.<br/>G.Whydon’twecomeearly?<br/>Lina:WearegoingtohaveapicniconSunday.<br/>Paul:Oh,really?<spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span>1</span><spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span></span><br/>Lina:Bytheriver.<spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span>2</span><spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span></span><br/>Paul:OK.Whynot?Howcanwegetthere?<br/>Lina:<spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span>3</span><spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span></span><br/>Paul:Goodidea.<spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span>4</span><spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span></span><br/>Lina:Wewillmeetatmyhomeat8:30inthemorning.<br/>Paul:OK.<spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span>5</span><spanstyle="text-decoration:underline"><spanstyle="text-decoration:underline"></span></span><br/>Lina:Seeyou.<br/>

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      <spanstyle="text-decoration:underline;">Although</span>wehadexpectedpoorserviceattheresort,<spanstyle="text-decoration:underline;">wewere</span>morethan<spanstyle="text-decoration:underline;">satisfied</span>atthattention<spanstyle="text-decoration:underline;">wereceived</span><br/>ABCD<br/>throughoutourstay.<spanstyle="text-decoration:underline;">Noerror</span><br/>E

    • 2

      Passage1<br/>ThehumanraceisusinguptheEarth'sresourcesfasterthaneverbefore,accordingtoanewreportbytheUnitedNationsPopulationFund.“Environmentaldevastationisnotsimplyawasteof<spanstyle="text-decoration:underline;">1</span>,itisathreattothecomplexstructuresthat<spanstyle="text-decoration:underline;">2</span>humandevelopment,”saysthereport.<spanstyle="text-decoration:underline;">&nbsp;3</span>attentionmustbepaidtofinda(n)<spanstyle="text-decoration:underline;">&nbsp;4</span>betweenhumanandenvironmentalneeds,itsays.<br/>Thereport,StateoftheWorldPopulation2001,saysthatwatersuppliesandagriculturallandsarecoming<spanstyle="text-decoration:underline;">&nbsp;5</span>suchincreasingpressurethat,ifleft<spanstyle="text-decoration:underline;">&nbsp;6</span>,ourplanetwillnotbeabletosupportusinfutureyears.Overthepast70years,theworld’spopulationhastripledto6.1billionpeople,<spanstyle="text-decoration:underline;">&nbsp;7</span>water-useincreasingsix-fold,saysthereport.Already508millionpeoplelivein31countriesthatlackwater.Andtheproblemislikelyto<spanstyle="text-decoration:underline;">&nbsp;8</span>astheglobalpopulationis<spanstyle="text-decoration:underline;">&nbsp;9</span>torisetoeightbillionby2025.<br/>By2050,predictsthereport,4.2billionpeoplewillbelivingincountriesthatcannotmeetpeople'sdaily<spanstyle="text-decoration:underline;">&nbsp;10</span>needs.Uncleanwaterandpoorsanitationalreadykillsover12millionpeopleeveryyear.Foodproductionisalso<spanstyle="text-decoration:underline;">&nbsp;11</span>byenvironmentalproblems,saysthereport.“To<spanstyle="text-decoration:underline;">&nbsp;12</span>thefuturepopulationandimprovetheirdiets,theworldwillhavetodoublefoodproduction,”itsays.“Butsinceavailablecroplandis<spanstyle="text-decoration:underline;">&nbsp;13</span>,mostproductionwillhavetocomefromhigher<spanstyle="text-decoration:underline;">&nbsp;14</span>ratherthannew<spanstyle="text-decoration:underline;">&nbsp;15</span>.”<br/>Accordingtothereport,globalpovertycannotbe<spanstyle="text-decoration:underline;">&nbsp;16</span>without<spanstyle="text-decoration:underline;">&nbsp;17</span>theenvironmentaldamagecausedbytheseincreasesinconsumptionandpopulation<spanstyle="text-decoration:underline;">&nbsp;18</span>.Toreducetheburdenontheplanet,thereportsuggests,alleffortsshouldbe<spanstyle="text-decoration:underline;">&nbsp;19</span>toimproveeducationandhealthcare,asthiswould<spanstyle="text-decoration:underline;">&nbsp;20</span>reducepopulationgrowth.<br/>1.A.facilitiesB.resourcesC.reservesD.provisions<br/>2.A.supportB.foundC.retainD.advocate<br/>3.A.IntensiveB.IntenseC.EmergentD.Urgent<br/>4.A.equationB.tradeoffC.balanceD.axis<br/>5.A.underB.intoC.belowD.beyond<br/>6.A.unnoticedB.behindC.aloneD.unchecked<br/>7.A.inB.withC.byD.above<br/>8.A.aggravateB.heightenC.declineD.worsen<br/>9.A.projectedB.speculatedC.intendedD.assessed<br/>10.A.luxuriousB.utmostC.intrinsicD.basic<br/>11.A.affectedB.effectedC.reflectedD.generated<br/>12.A.containB.lodgeC.furnishD.accommodate<br/>13.A.shrinkingB.diminishingC.contractingD.waning<br/>14.A.outputsB.turnoversC.yieldsD.harvests<br/>15.A.cultivationB.productionC.farmingD.plowing<br/>16.A.lightenedB.releasedC.elevatedD.alleviated<br/>17.A.reversingB.invertingC.upsettingD.disregarding<br/>18.A.standardsB.indexesC.normsD.levels<br/>19.A.triedB.takenC.doneD.made<br/>20.A.ineffectB.inturnC.inpartD.byturns

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      Severalmembers<spanstyle="text-decoration:underline;">ofthesafetycommission</span><spanstyle="text-decoration:underline;">suggested</span>thatloweringthespeedlimit<spanstyle="text-decoration:underline;">ontheroad</span>wouldnotnecessarily<br/>ABC<br/>resultin<spanstyle="text-decoration:underline;">less</span>accidents.<spanstyle="text-decoration:underline;">Noerror</span><br/>DE

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      I<spanstyle="text-decoration:underline;">raninto</span>Tom<spanstyle="text-decoration:underline;">yesterdayevening</span>,<spanstyle="text-decoration:underline;">and</span>helooked<spanstyle="text-decoration:underline;">healthily</span>. A: raninto B: yesterdayevening C: and D: healthily