What is non-controlling interest? In 1 – 3 sentences, explain clearly how it arises and what it represents.

Which of the words best completes the sentence? When analyzing a novel, one must always seek out what the author thinks; this is called ______ _______.

You are working with a colleague who says he has completed a DCF model for Autozone. He tells you he has made the following assumptions: Valuation date of December, 2020 (in other words, the first year of the explicit forecast period is FY2021) Cost of equity = 9% Cost of debt = 5% WACC = 10% Terminal growth rate assumption: 8% Marginal tax rate = 21% Marketable securities are not included in excess cash (for bridging from EV to implied share price) PP&E as a % of sales increases from 15% of sales in Year 1 to 25% of sales in Year 5, the end of the explicit forecast period Dividends of 10% of NOPAT are paid every year and reduce unlevered free cash flow Related to the list of assumptions above, name four things that are either wrong and/or unreasonable. Provide an explanation for each as to why it is wrong and/or unreasonable.

Acquiror company offers $60 per share for Target.  Target has 10M shares outstanding, and prior to the offer its stock price was $50. Acquiror expects the post-tax PV of synergies to be $60M.    Which of the following statements is most correct?

Assume: Aldi’s current stock price is $50 and it has 300M shares outstanding Assume that Woodman’s made an offer for Aldi in 2021.  Woodman’s stock at that time traded at $90 per share.   Woodman’s had130M shares outstanding, debt of $7,000M and excess cash of $500M. Aldi’s LTM EBITDA is$1,663M, and its forward EBITDA is $1,728M. Aldi’s forward (2018E) EPS is $4.54, and Woodman’s is $8.41 Assume the deal happened Dec 30,2021.  Synergies are expected to be $200M.  Both companies have a WACC of 8% and a cost of equity of 10%. Analysis of precedent transactions shows that the median transaction EV/LTM EBITDA multiple for similar deals has been 12.5x.  If Woodman’s acquisition of Aldi resulted in an acquisition multiple  EV/LTM EBITDA multiple of 12.5x, how much of a premium (in percent) is Woodman’s paying per share of Aldi?  Enter answer to one decimal place.  So if you think answer is 12.24% then type “12.2”

A company with no debt in its current capital structure would have a WACC equal to its

Anthropologists would not waste their time studying popular culture. 

Giving a test to a group of students, the grades and gender are summarized below: If one student is chosen at random, find the probability that the student did not get a C. _______

A picture of a dog is an example of a symbol.

Which of the following are true about share repurchases?