Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Marriot Case Essay

Open Document

Below is an essay on "Marriot Case" from Anti Essays, your source for research papers, essays, and term paper examples.

Advanced Corporate Finance

Marriott Case

The table below describes the unlevered after-tax cash flows for the years 1988 to 1997. The EBIT is assumed to grow by 4.5% per annum. The depreciation and capex are assumed to grow by 5% and 2% per annum, respectively. Given these rates, the cash flows grow from 16,06 in 1987 to 54,72 in 1997. A total rise of 240.72%. The annual growth per annum is 18.18% for 1987 to 1988, 16.39% for 1988 to 1989, 14.89% for 1989 to 1990, 13.79% for 1990 to 1991, 12.85% for 1991 to 1992, 12.06% for 1992 to 1993, 11.41% for 1993 to 1994, 10.84% for 1994 to 1995, 10.38% for 1995 to 1996 and 9.92% for 1996 to 1997.

|                                  |EBIT                     |Depreciation           |Capex                   |                            |
|Annual Growth Rates:               |1,045                     |1,05                   |1,02                   |                            |
|Year                               |EBIT                     |Depreciation           |Capex                   |Cash Flow                   |
|1987                               |82,40                     |42,10                   |79,60                   |16,06                       |
|1988                               |86,11                     |44,21                   |81,19                   |18,98                       |
|1989                               |89,98                     |46,42                   |82,82                   |22,09                       |
|1990                               |94,03                     |48,74                   |84,47                   |25,38                       |
|1991                               |98,26                     |51,17                   |86,16                   |28,88                       |
|1992                               |102,69                   |53,73                   |87,88                   |32,59                       |
|1993                               |107,31                   |56,42...

Show More


Citations

MLA Citation

"Marriot Case". Anti Essays. 20 Apr. 2019

<https://www.antiessays.com/free-essays/Marriot-Case-165804.html>

APA Citation

Marriot Case. Anti Essays. Retrieved April 20, 2019, from the World Wide Web: https://www.antiessays.com/free-essays/Marriot-Case-165804.html