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Adjusted present value (APV) is a valuation method introduced in 1974 by Stewart Myers. [1] The idea is to value the project as if it were all equity financed ("unleveraged"), and to then add the present value of the tax shield of debt – and other side effects.
Advanced Placement (AP) Biology (also known as AP Bio) is an Advanced Placement biology course and exam offered by the College Board in the United States. For the 2012–2013 school year, the College Board unveiled a new curriculum with a greater focus on "scientific practices".
Advanced Placement (AP) examinations are exams offered in United States by the College Board and are taken each May by students. The tests are the culmination of year-long Advanced Placement (AP) courses, which are typically offered at the high school level. AP exams (with few exceptions [1]) have a multiple-choice section and a free-response ...
This tax-related encouragement of debt financing has not gone uncriticized. [2] For example, some critics have argued that the cost of equity should also be deductible; which could reduce the Internal Revenue Code's influence on capital-structure decisions, potentially reducing the economic instability attributable to excessive debt financing. [2]
A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, [1] pronounced / ˈ iː b ɪ t d ɑː,-b ə-, ˈ ɛ-/ [2]) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, state-mandated payments, and costs required to maintain its asset base.
In February 2014 College Board released data from the previous ten years of AP exams. College Board found that 33.2% of public high school graduates from the class of 2013 had taken an AP exam, compared to 18.9% in 2003. In 2013 20.1% of graduates who had taken an AP test achieved a 3 or higher compared to 12.2% in 2003.
This default premium will rise as the amount of debt increases (since, all other things being equal, the risk rises as the cost of debt rises). Since in most cases debt expense is a deductible expense, the cost of debt is computed on an after-tax basis to make it comparable with the cost of equity (earnings are taxed as well).
In corporate finance, net operating profit after tax (NOPAT) is a company's after-tax operating profit for all investors, including shareholders and debt holders. [1] NOPAT is used by analysts and investors as a precise and accurate measurement of profitability to compare a company's financial results across its history and against competitors.