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Final Exam: Fall 1997 This exam is worth 30% and you have ...
people.stern.nyu.edu4. You have been offered a stake in the equity of PhoneTec,a heavily levered cellular phone company and the current income statement is as follows: Revenues 12500 - Operating Expenses 11000 - Depreciation 2000 EBIT -500 - Interest Expenses 1000 Taxable Income -1500 - Taxes 0 Net Income -1500