问题如下:
4. Using the excess earnings method, the value of the intangibles is closest to:
选项:
A. $144.0 million.
B. $205.7 million.
C. $338.8 million.
解释:
B is correct.
Return on working capital = 0.08 × $10,000,000 = $800,000
Return on fixed assets = 0.12 × $45,000,000 = $5,400,000
Return on intangibles = $35,000,000
Value of intangibles using CCM = $28,800,000/(0.20 -