Valuation in emerging markets

CFA Level II
#1

Equity CFA book , Valuation in emerging markets, reading 41 problem 3, pg 303 I am not sure, how they got 2009 real taxes= 238,000/1.10. Would someone please let me know? Thanks,

#2

taxes paid are calculated from nominal earnings. So you must calculate nominal ebit, then nominal tax and then index that nominal tax value down with an inflation index.

#3

Also reading this section ATM and had a question. On page 278, how is investment in net working capital of 37 calculated? Thanks-

#4

rockstar Wrote: ------------------------------------------------------- > Also reading this section ATM and had a question. > > > On page 278, how is investment in net working > capital of 37 calculated? > > Thanks- Nevermind. The answer is on pg 280.

#5

Thanks so much, Andrew!