INSTRUCTOR’S SOLUTIONS MANUAL Corporate Finance Fifth Canadian Edition By Jonathan Berk, Peter DeMarzo, David Stangeland /All Chapters 1-31

1254345
64 378 9
329 3895
8 589 84 9
54329 3895
2
4  543 84 3
38952 43524

,12345678 9261 74 735 3  3 33765 8
1234567 57 5 5  3 353566 5 3 
1234567
7
573
63  3 36 3
8
1234567 92696!36 " 6 #
1234567 56765$356 %
1234567# !3
&  #
1234567' !3
5 ''
1234567( )656 56 $6 (
1234567%  36 53 "13453&
65
8**
12345678* 1345337653 526+7
"$ 8*(
123456788 ,453+ 75" 12 63 5261345365+7
 6 88'
12345678 -535
5261 5 "13453 8
8
12345678
)657&623) 73 134533765-""6  8
'
12345678  3 3,45  8

12345678 ,45 !335 8
12345678# $63,45  8#
12345678' 1345357576 3+67"653765 8(
12345678( 6
53 93.6 8%
12345678%  3 3 576/3 3
6736 5)6/3 "735 8%%
1234567* +35+  *'
12345678 1343
535&3
65
333!3
1234567 !3 365
0213
5216)6675
3
6 8
'

1234567
$3
-3513453 

1234567 6
5 3 

%
1234567 163

1234567# 4 7
134533 3
66 5 (
1234567' 2 755967 3 3+3


1234567( 67
673 35  '
1234567% 1 74 73566 )673 6 #*
1234567
* $3 3
66 5 #

1234567
8 56735 31 74 7356 3 6 '

, 1234534678398 6 6 9787 56467 43 87 39 48  69 39 485 64 897
23453467839 269  4  746 39 37 37 4 34698678396 34 64 78
26462748782
9 4 86887 8 887 737 63977  89
7 897 84
643 4 64 937
4 539 8 3469 924692 37 84
89564782647 269937 4 847356
62!69 7 892447 84
"3453467839 #6 643 4 6
887 86887$%887 56479 485 543
8 887
86887347 88756479 47937347 9 46 56479 4
1
6976 & %887 86887 8887 898987 8 '86
6976 & '3 76(67839
56467839 339 48569239743
 23453467839767393 46 767  75623453467 8923 76(  46 767
89
7 9774 7 #)*+$3 9375623453467 76( 7 756 743  769786 
6 37 8923 737 74 798734 73387876(6 
,8477 2345346783956 7 76( 17476( -./#01234$5-03.5 4 64 8 77356
8
8 992 7 8
8 98 5685 4396 76(3978  7 568 6
89 -03./#01
206$5-026.45 4 64
36746 7 76( 64 568364 787-026.45 4 64
1 646 767 89
7 9774 7#)*+$56 9323453467 76(7  63973-.5 4987
269 56837 7336 674 79873 473 77 9565 4396 8923 76(397
87487839
3364 787
-./#0124$5-0.254987
1 7 696 43698839 6558267839 
35 438 6! 74 75 38969286
 28839 
9:; 738 6! 89
7 97 28839 26  748989 8275 38839 6558267839
543<27 8 343423569653878
8=69 37 434 
35
3423569
99:;738 6! 7  28839393739348839 655826783989
7 97 69
678(3 769 8734235698 6

999:;738  4 539 8 347 26696  97334235699 489 76734
235696 7 9 2 649 736! 89
7 97568974 739 3696956
34 53 

643 4 269
9:; 94 767 53 64 5688723569 732!69>34 732!357839 
99:; 94 7679 45 43489 696 4 64 84
999:;487 23974627 767 9 4 7677 8974 7 37 696 4 69 643 4 64 23 
689 
9?:;397378 76! 3
4
8 8 62769477 2 73 4+78 6
69 678
85627397 2 73 434

, 01235677768273920 678056777 122906260121 72 2 2
601279  02 5677 2762010012 2820277 67856775601
0012 28201 01272030120 26217502 
922023012 28205677 2 201279
027  02  2
301600293165677290627320012 200862121 72 06602
012279
0258