The stock price listed for Visa is $254.61. The book value per share of Visa is $17.89. The market capitalization of Visa is $40.96 billion. The number of stock shares outstanding is 160.87 million. The most recent dividend payout is $0. The beta for Visa is 1.19. The yield on three-month Treasury bills is 0.36%. The expected market return is 6.36%. Can you use the dividend discount model in this case to estimate the cost of equity for Visa ? If so, what is the cost of equity for Visa ? If not, why? Can you use the CAPM model in this case to estimate the cost of equity for Visa? If so, what is the cost of equity for Visa ? If not, why?

Panera bread is a chain of cafes serving sandwiches, soups, and freshly baked breads. the company began in 1981 with stores primarily located along the east coast of the united states. since then, the firm has expanded to over 1,300 locations throughout the united states and canada. the firm has strong earnings and has been designated by business week as a "significant growth company." panera bread executives are considering the idea of expanding globally by opening cafes in asia through a franchising strategy. which of the following, if true, supports the argument that panera bread should expand into asia through franchising? a: the panera bread menu changes rapidly, and each cafe's artisan bread bakers receive regular training on new recipes. b: panera bread executives want fast access to the asian market without a significant investment of capital. c: panera bread executives want to test the asian market with a short-term commitment that allows them to make quick profits. d: the panera bread mission is to make excellent bread available to customers around the world.

Assume today is december 31, 2013. barrington industries expects that its 2014 after-tax operating income [ebit(1 – t)] will be $400 million and its 2014 depreciation expense will be $70 million. barrington's 2014 gross capital expenditures are expected to be $120 million and the change in its net operating working capital for 2014 will be $25 million. the firm's free cash flow is expected to grow at a constant rate of 4.5% annually. assume that its free cash flow occurs at the end of each year. the firm's weighted average cost of capital is 8.6%; the market value of the company's debt is $2.15 billion; and the company has 180 million shares of common stock outstanding. the firm has no preferred stock on its balance sheet and has no plans to use it for future capital budgeting projects. using the corporate valuation model, what should be the company's stock price today (december 31, 2013)? round your answer to the nearest cent. do not round intermediate calculations.

When selecting a savings account, you should look at the following factors except annual percentage yield (apy) fees minimum balance interest thresholds taxes paid on the interest variable interest rates