INSTRUCTOR’S SOLUTIONS MANUAL Corporate Finance Fifth Canadian Edition By Jonathan Berk, Peter DeMarzo,David Stangeland - All Chapters (1-31) || Latest & Newest Version 2024 A+

012345637482
27 530712
15
6
6



!
"#$%
&'()*+,-./)012,30'4
.
5##$6#7$8

&'()*+,-./)012,30'4
.
69:;<
=#>
;
/)012,30'4.+*.?()0'+@(
.
.
.
6AB62BCD CB
BCE6FGFH

II0AAJKB
II2K4DD
II BB6DBC
II6DDDBCDBC

,12345346
7894  


 
 !"
#$%
& '
7894 (22)6



*
. %
+ $,/
"0
 
-
& 

, 1'
' !2 .3
789414865678)884/ 52
3",9 1'
: /
",#
::
; !<$-2"
 ;'
3 "$
0 
9",, ==
78947=>56?83@>54893


A,02
=;
 B$
A0
  
%A,

:
 C$, 0 
*
* !<9<" 


C00& *:
78947 DE45236




.
' 
B/
B
" '.*
1 2
B 1
78947:18E548)F498648958
3#@G5"H5"@53@72A)56I0

 ;'
; -+J 3
3 
-K
,
!<K!0$ 33
 = A&"A
& =:
78947 78)884523



 /
"
9"
, ,
/


"

,L
N%M<#
,"& *:
78947 *O23PQ(59R2S5 38,36CT53P"& 
*'
 . -+, *3
 ' M, .
7894U FV
1 294Q(59RWS538
365,3P

,$ .;
 : #X$
A
, '*
7894UFE;5658)
,%T" ':
 3 Y< 1=
*= 2

,$ 1*
* !
 :

, 12345679
261 74735 3  3 33765
99




!"#
!"


$ "


"%&

'"()*
&"
'"*
 *
"


*"



+"%""!$

,",(-"%
*"
*"#

.



!%& *
"
*

*


"


(
9/0'"1!

+
!

$
!
&

",

*"
&2

*"$
3"
",

*"%
&(4*
"*!,"
" 

"
+!"%
$ "2&+
" %
*"%
&5



2!
6
*"$

+""72
",

$
+
8
$,"+

2",+$
*"%
&(
99:


 ;
!! *
"*!," *
3" !
&

", !

+
!

$<(=
&

", 

"*
 3
," !
&

",
!

+
!

$%
*" !
&

",

"6+2

%
*"#""
!

"(
9>,3


#"? =
&

", !

+
!

$6 !
72
,

$6
%


" !
%"( @

,3


#"? @2+!"

A


6
"



 % '"*

,
!(
9B)*"



*

!$*!, "
!"


"&2

$

"
&"

A"()*""
!"


"

3"
&"

2
;CDE)<," 

$

"

A" +2
&2


*2#* 2+




!!$

!!%
*"
&"

*"
2
2

*!,"
'*&




A
+!"(
9FG

6
*"



$
*"

A"(%
"

A"6HIJ;KLM(NO<PHK(NI" *
"
!"%



$,
3
,",(0"
*",
3
,",


,6"
!

A
*
&2
+"

,6!"
3
#HK(NI
J;KLM(KQ<PHK(MQIO" *
"(4
%
"
!!
*"

A"
"

,6$2
"!"%
'

*HK(MQIO
" *
"(
9R
"
!"


"
3"
&"

2
;CDE)<
$ 

"

A6
*"%2!!
&2
%HI
"2


+"

,2

$2


2
2

*!,"(S2&2

*"
$"
!
&"

A

*",


+2

(4$2
"!"%
'

*
HIJ;KLM(O<PHK(IM"2

(
9T 
*"&

#"%

U*"
!



 ,"3"!"6$2'
!!&
8"
*""
$" %%



!
,"

(
VWX S2'
!!&
8"
3"
&"
,"

 2*
,"
"&

#'*
*
$"%
U*"
!




Y"
'
!!%%"$2&
$



3"-UZ
, *2!,6
*""%"6+","3"!",+$
$2&
$(
VVWXS2'
!!&
8"
*","

*'
%2,$2
U*"
!




3"
&"

,'*


&
A%,"+

,"72

$$2&
$'
!!*
3"(
VVVWXS2'
!!+""
+!"%
*"
*&

#"&"
%$2&
$6"2
#
*

$2
&
$*

*" ""
$%2,
&
8"
3"
&"
6
$

""
!
6
,
$
$2"&!$""(
9[ 4*
"*!," 


, 01 3456739 93 33573 9 4594759 945
0013456739 96437377 4 43757373
0001793497959 93456739 9934937359593 437545 73 37573
5343
01 64959393375





! 539467993659 375"9 34393 9493659 375#
793339567 "9 5 3 4393 945 73 375
$3653#4934764#659 37573%39 9935637 739535567 4
59 99375637 7395! 65#93639 93696734 345
5973 5343793$935637 7397$3653934&937 55
659 375653$9559793! 54393399367734959735
5 73 375 49 9393534&937 7$ 5