INSTRUCTOR’S SOLUTIONS MANUAL Corporate Finance 5th e. Fifth Canadian Edition By Jonathan Berk, Peter DeMarzo, David Stangeland - All Chapters (1-31) || Latest & Newest Version 2025 A+ Newest Edition

01234563748227 530712 15 6







!
"#$!



%&'()*&&'+&,
'-!)+
.

/

0&1


2311
4&'5672879:
&5;<&=&5>&'5!



,
01234235
78932391 312
 





!"# 
$ %

&



'(
)
*## +
7893 ,11-5  
. )/0




1#
!"
0 +
2 (3&4!
* $5
+ %
#6# 27
7893 88598-8312
5 3&
0:

# 5+
; 3&
0'"# ;;
< %
=#(
1#
6&# <+
7
&

(
#4:&
0
0 >>
78939?5@82?4392
> !"#

A
046#" ><
 B(A4

)##A
0!
 ;
$ C#(
0#4 .
. %
=#:=&

!"C44
* .;
78939DE3125  
2


B
# 2.
+ B
3&
 +$
5 6B
# 5$
78939 08E38-F3939482GH42 71-I
; '&&
A4!" <+
< 1/

J# 7$
7


1###K!
0%

=#K

%
4(
 77
$> A*&A* $>;
78939 98-8312
$ :&
0
0

3&
LM=0 $.
$$ 3&





!

0N)#'&
* $$;
78939 O12PQ,49RS2822P
$. 6#
0CT&* $.+
$2 1/



0 $.7
$+ M#
0 $2$
7893UFV193Q,49RS2822P
$5 W"
0!
0(
 $2<
$; 'X(


A


0 $+.
7893UFE48-,1E5
$< !0#

)T&#
# $+;
$7 Y=

 $5>
.> 6#"!
0(
 $5.
. %





 $;$

, 01234568
915063624 2  222654
 88




!"#
!"


$"


"%&

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

*"



+"
%""!$

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

.



!%& *
"
*
*


"


(

8/0123456!

+
!

$
!
&

",

*"
&7

*"$
8"
",

*"%
&(9*
"*!,"
"
"
+!"%
$
"7&+
"%
*"%
&:



7!
;
*"$

+""<7
",

$+
=
$,"+

7",+$
*"%
&(

8>?


@
!!*
"*!,"*
8"!
&

",!

+
!

$A(B
&

",

"*
8
,"!
&

",!

+
!

$%
*"!
&

",


";+7

%
*"#""
!

"(

8C,8


#"DB
&

",!

+
!

$;!
<7
,

$;
%


"!
%"(E

,8


#"DE7+!"

F


;"



%'"*


,
!(

8G)*"



*

!$*!,"
!"


"&7

$

"
&"

F"()*""
!"


"
8"
&"

7
@HIJ)A
,"

$

"

F"+7
&7


*7#*7+




!!$
!!%
*"
&"

*"
7
7

*!,"

'*&




F
+!"(

8KL

;
*"



$
*"

F"(%
"

F";MNO@PQR(STAUMP(SN"*
"
!"%


$,
8
,",(V"
*"
,
8
,",


,;"
!

F
*
&7
+"

,;!"
8
#MP(SNO@PQR(PWAUMP(RWNT"*
"(9
%
"
!!
*"


F"
"

,;$7
"!"%
'

*MP(RWNT"*
"(

8X
"
!"


"
8"
&"

7
@HIJ)A
$

"

F;
*"%7!!
&7
%MN"7


+"

,7

$7



7
7

*!,"(Y7&7

*"
$"
!
&"

F
*",


+7

(9$7
"!"%
'

*
MNO@PQR(TAUMP(NR"7

(

8Z 
*"&

#"%

[*"
!



,"8"!";$7'
!!&
="
*""
$"%%



!,"

(
\]^ Y7'
!!&
="
8"
&"
,"

7*
,"
"&

#'*
*
$"%
[*"
!



_"
'
!!%%"
$7&
$



8"-[`
,*7!,;
*""%";+","8"!",+$$7&
$(
\\]^Y7'
!!&
="
*","

*'
%7,$7
[*"
!




8"
&"

,'*

&
F%,"+

,
"<7

$$7&
$'
!!*
8"(
\\\]^Y7'
!!+""
+!"%
*"
*&

#"&"
%$7&
$;"7
#
*

$7&
$*

*"
""
$%7,
&
="
8"
&"
;
$

""
!
;
,
$$7"&!$""(

8a 9*
"*!,"

\]^ "7"
*

"&!$""
"

,'

*&
$
=
,b
=

(
\\]^"7"
*

7,""%&
#&

#"
"%
",(
\\\]^'

"



*

"7"
*


*"

""
%
*"&

#"
,*
"*!,"
"!"!$
!
#",(
\c]^&7
*

!"

="8"(

88d)*
'
!!
%%"

,*7

*"7
&"(J
'
!!*
8"
"#


8"
&


*"7
&";%
*"$'
!!!
="!$#"
7
&
!=(J
'
!!
!*
8"
"#


8"
&

*
"*!,"+"
7";

*"!#7;7
&"'
!!"
!
."
*


*"
7"&
="
"!!7&
!=
,'
!!'

*

*"7"&
="
()*7;
*"8
!7"
,
$%
*"%7
7"
&"

,
*%!'
"
& #""

",+$
*"7"&
="
'
!!,+"
7"%
*"!#e
"&! %7
&"
7",
+$
*



"#$()*
'
!!"#


8"!$
%%"

*"7"

=
"
*
"*!,"





"
*""!#e
"&
,
'+
=(

, 0113456789 17 598874 
4889 88795185985515187 
74 17 87



 56
5
6578811
7
15

8795189 17 




4776 8
598 18
7!8"8!7#5 $795%18%&
%3969578%58%"8%'89
95918