...SaSampa Video, Inc. 10/12/10 12.27 9-201-094 REV: OCTOBER 7, 2003 GREGOR ANDRADE Sampa Video, Inc. Sampa Video, Inc. was the second largest chain of videocassette rental stores in the greater Boston area, operating 30 wholly owned outlets. Begun in 1988 as a small store in Harvard Square catering mostly to students, the company grew rapidly, primarily due to its reputation for customer service and an extensive selection of foreign and independent movies. These differentiating factors allowed Sampa Video to compete directly with the leader in the industry, Blockbuster Video. But unlike the larger rival, Sampa had no ambitions to grow outside of its Boston territory. Exhibit 1 contains summary financial information on the company as of their latest fiscal year-end. In March 2001, Sampa Video was considering entering the business of home delivery of movie rentals. The company would set up a web page where customers could choose movies based on available in-store inventory and pick a time for delivery. This would put Sampa in competition with new internet-based competitors, such as Netflix.com that rented DVDs through the mail and Kramer.com and Cityretrieve.com that hand delivered DVDs and videocassettes. While it was expected that the project would cannibalize the existing operations to some extent, management believed that incremental sales would be substantial in the long run. The project would provide customers the same convenience as internet-based DVD rentals for the...
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...Sampa Video, Inc. • A small video chain is deciding whether to engage in a new line of delivery business and is conducting an economic analysis of the valuation impacts of this decision. • This is a case basically regarding how to measure the benefits of financial leverage via different valuation approaches. Firm valuation (discount cash flow) and cost of capital • When you use the after-tax cost of capital to be the discount rate, you basically take in the effect of the financing. • If you discount the project cash flows (without financing) by the after-tax cost of capital, you will get the exact net present value as you use it to discount the total cash flows (project cash flows plus the financing cash flows). • That is, when you use the after-tax cost of capital to discount financing related cash flows, the net present value would be zero. ） （t=0） Initial invest. (total cost) Inc. rev. Inc. cost Deprec. OP CF NOP CF Project CF Financing Interest (AT) Repay. Fin. Rel. CF Total CF 8,000,000 0 (8,000,000) 8,000,000 (8,000,000) ） （t=1） ） （t=2） ） （t=3） ） （t=4） 6,000,000 (2,000,000) 2,000,000 3,500,000 6,000,000 (2,000,000) 2,000,000 3,500,000 6,000,000 (2,000,000) 2,000,000 3,500,000 6,000,000 (2,000,000) 2,000,000 3,500,000 3,000,000 3,500,000 3,500,000 3,500,000 6,500,000 (360,000) (360,000) (360,000) (360,000) (8,000,000) (360,000) 3,140,000 (360,000) 3,140,000 (360,000) 3,140,000 (8,360,000) (1,860,000) ...
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...Corporation Finance (Course 35200) Spring 2016 Professor Kelly Shue Assignment # 2 –Sampa Video Names: | Signatures: | Student # | Section: | Louise (Chiao-ling) Chang | | 458381 | 03 | Joonmo Lee | | 458378 | 03 | Sonja Schut | | 452395 | 03 | Alvin(Yaxin) Yu | | 456062 | 03 | Honor Code: I pledge my honor that I have not violated the Honor Code in preparation of this case assignment. 1. What are the annual projected free cash flows? What is the NPV of the project assuming the firm was entirely equity financed? What discount rate is appropriate? Since we assume that this project will be entirely equity financed, we can use ra. Assuming that this project has similar risk with that of Kramer.com & Cityretrieve.com, we can use their average beta to compute the discount rate based on CAPM model: ra=5.0%+1.5*7.2%=15.8%. Given that FCF = EBIAT + DEP – INV, we thus have the FCF for the year 2001 to 2006 as follows: Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | FCF (‘000) | (1500) | (112) | 6 | 151 | 314 | 495 | As from year 2007 onwards, the FCF growth rate is 5%, the continuation value as of 2006 is 495*(1+5%)/(15.8%-5%) = 4813, therefore, the total FCF for the year 2001 to 2006 is as follows: Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | Total FCF (‘000) | (1500) | (112) | 6 | 151 | 314 | 5308 | Using NPV equation with ra = 15.8%, we therefore have NPV = $1,228,500 2. Value the project...
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...Sampa Video: essay: Question 1] What are the annual projected free cash flows? What is the NPV of the project assuming the firm was entirely equity financed? What discount rate is appropriate? Annual Projected Free Cash Flows Detailed annual projected free cash flows calculations are summarized in APPENDIX I. Free Cash Flows (FCF) are calculated using following relationship. FCF = EBIAT + Depreciation - Investments In brief, annual projected free cash flows are as following. NPV of Project 100% Equity Financed NPV is calculated by discounting annual FCFs to present (end of fiscal/calendar 2001). Here unlevered required rate of return (cost of capital) is used as a discount factor. NPV of Project in $K is = $1,228K @ Discount Factor 15.8% Appropriate Discount Rate We think the appropriate discount rate should be equal to unlevered required rate of return (cost of capital) for the project. Procedure 1. Asset Beta of Twin = 1.50 … Given, Case Material Project Asset Beta = 1.50 2. Market Risk Premium = 7.2% …Given, Case Material 3. Risk-free Rate = 5.0% …Given, Case Material 4. Using CAPM, Discount Rate = 5.0% + 1.50X7.2% = 15.8% Appropriate Discount Rate = Cost of Capital = 15.8% Question 2] Value the project using the Adjusted Present Value (APV) approach, assuming the firm raises $750,000 of debt to fund the project and keeps the level of debt constant in perpetuity. Detailed calculations for project’s NPV using APV approach and...
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...Sampa Video Solution Discussion Sampa Video Case This case is useful for illustrating how we do NPV analysis when cash flows are risky, illustrating the idea of a terminal value, and also for thinking about what kinds of advantages make for positive NPV projects. The case discusses Sampa Video, the second largest chain of video rental stores in the greater Boston area, and their consideration of an expansion into an online market. What we have to do is evaluate the decision. Sampa Video – History Sampa began as a small store in Harvard Square catering mostly to students. The company expanded quickly, largely due to its reputation for customer service and its extensive selection of foreign and independent films. In March of 2001 Sampa was considering entering into the business of home delivery of videos. This follows on the heals of rumors of similar considerations by Blockbuster and the appearance of internet based competitors (Kramer.com and CityRetrieve.com). Expectations The project was expected to increase its annual revenue growth rate from 5% to 10% a year over the next 5 years. Subsequent to this, the free cash flow from the home delivery unit was expected to grow at the same 5% rate that was typical of the video rental industry as a whole. Up-front investment required for delivery vehicles, developing the necessary website, and marketing efforts were expected to run $1.5 M. Projections – Incremental Cash Flows (thousands of $) Sales EBITD Depr. EBIT Tax...
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...Cohesion in the Translated Novels of Naguib Mahfouz: the Evidence from The Thief and the Dogs. By Ahmed-Sokarno Abdel-Hafiz South Valley University Abstract The paper aims at examining how lexical cohesion is achieved in Naguib Mahfouz’s novel The Thief and The Dogs and how the translators have dealt with this device in the translated version. The paper compares lexical cohesive devices in this novel and in its English version. It is also an attempt to test two hypotheses that account for the degree of explicitness in the translated text as compared to the source text: the Explicitation Hypothesis and the Stylistic Preference Hypothesis. Both Aziz (1998) and Obeidat (1998) adopt the Stylistic Preference Hypothesis which attributes explicitness or implicitness to Stylistic preference of the target language. The Explicitation Hypothesis is shown to offer a more appropriate explanation for the way lexical cohesion is rendered in the target language. 0. Introduction Cohesion is defined “as the set of possibilities that exist in the language for making text hang together: the potential that the speaker...
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...Video Digital Canon HDSLR 60D Sensibilidad ISO máxima Tamaño sensor Resolución sensor Montura óptica Máx. framerate Latitud Salidas vídeo 6400 APS-C 18 Mpix EF/EF-S 60 fps 8 stops miniHDMI 7D 6400 APS-C 18 Mpix EF/EF-S 60 fps 8 stops miniHDMI 6D 25600 Full Frame 20 Mpix EF 50 fps 8 stops miniHDMI 5D 25600 Full Frame 22 Mpix EF 50 fps 8 stops miniHDMI 1D 51200 Full Frame 18 Mpix EF 60 fps 12 stops miniHDMI Compuesto Formato grabación H.264 H.264 H.264 H.264 MJPEG H.264 Bitrate grabación Precio alquiler/hora 44Mbps 24€ 45.7Mbps 55€ 28 Mbps 59€ 38 Mbps 150€ 25 Mbps 295€ Canon C300, C500 C300 Sensibilidad ISO máxima Tamaño sensor Formato Imagen Captura Resolución sensor Montura óptica Latitud Salidas vídeo Salidas audio Entrada audio Formato grabación Bitrate grabación Precio alquiler/hora 20.000 Super 35mm 16:9 720p, 1080p 8 Mpix EF 12 stops HDSDI, SDI, HDMI Analógico 2ch 2x XLR-3 + Phantom MXF (MPEG-2) 50Mbps 215€ C500 20.000 Super 35mm 16:9 4K RAW, 2K RAW 8 Mpix EF 12 stops HDSDI, SDI, HDMI Analógico 2ch 2x XLR-3 + Phantom MXF (MPEG-2) 50Mbps 290€ Sony F65 Sensibilidad ISO máxima Tamaño sensor Formato Imagen Captura Max. Framerate Resolución sensor Montura óptica Latitud Salidas vídeo Formato grabación Bitrate grabación Precio alquiler/hora 800 Super 35mm 16:9 2K, 4K 120 fps 17,7 Mpix PL 14 stops HDSDI F65 RAW/SR Master 220-2400Mbps 890€ Arri Alexa Sensibilidad ISO máxima Tamaño sensor Formato...
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...* CONTABILIDAD * ------------------------------------------------- Caso Individual Siemens Publicado en: viernes 19 de abril de 2013 En referencia al caso individual Siemens, os cuelgo las preguntas sobre el mismo. * Análisis de la situación: Razones estratégicas del cambio a Prokasta * Cálculo de costes por el sistema tradicional (o pre-Prokasta) * Cálculo de costes por el sistema Prokasta. * Elementos críticos que aparecen al aplicar Prokasta * Conclusiones La idea es hacer un análisis de la aplicación del sistema de costes Prokasta y la repercusión que tiene desde todos los puntos de vista, estratégico, económico, etc. El caso ha de ser entregado antes del lunes 29 de abril a las 14:00 H (UTC/GMT +2) Es importante la puntualidad, porque empezaremos a tratar el caso siemens en el foro 14, con lo que el entregarlo tarde implicará que se ha empezado a hacer pública la solución del caso. El buzón se cerrará el lunes a las 14:15 h del lunes 29 de abril (por si los rezagados). El caso está en la documentación impresa del curso ------------------------------------------------- TECNOLOGÍA * Hola a todos. Como comentaba el viernes aquí van las instrucciones más detalladas para el trabajo final, siguiendo la línea de lo que explicaba el primer día, aunque reduciendo el tiempo – esfuerzo de preparación para que sea asequible para los grupos: - Cada grupo selecciona una tecnología que va a ser disruptiva para un sector. Se trata de complementar...
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...The chart below shows what you have to do to reach each level. |Level 7 | Enquiry using sources / Knowledge: | | |We have extensively researched this project and are able to confidently demonstrate our knowledge. We offer a complex | | |analysis of the key features of our chosen topic and are able to compare the story with other events in history and reach | | |substantiated conclusions. It is evident that we have used a variety of sources in researching our story. | | |Organisation & Communication: | | |Our presentation is innovative and of high quality. It uses language and historical terms precisely in a way which clearly | | |communicates complex ideas. It is a team effort. | |Level 6 | Enquiry using sources / Knowledge: | | |We have researched the project in some depth and are able to demonstrate that...
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...be paired with a phone using the My Glass app to allow quick fiddling with settings and customisation. Navigation You'll be able to use Google Maps to get directions although as there is no built in GPS receiver you'll need to tether Glass to your smartphone. Several third party developers have announced apps for services including Evernote, Skitch and Path. Memory There's 16GB of flash memory built into the device, although only 12GB is currently available for user storage. The device will sync to your Google Drive, giving you both a place to stash your photos and video clips as well as a stash of documents and files you can call up from the cloud. Camera There is a 5 megapixel camera built-in to the frame that can also capture video at 720p resolution. Battery The rechargeable battery last for roughly a day, although that's with the standard "typical use" caveat, which probably excludes a lot of video capture or playback. Connection Bluetooth and WiFi will be built in, but there is no GPS chip - so the Glass will probably work best alongside an Android phone for full Google Maps functionality. You can however pair with any Bluetooth enabled phone and we would expect some support for iOS at least. Design Glass is designed to be lightweight and as unobtrusive as possible. The frame will come with adjustable pads for comfort, and is expected to be both light...
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...Press Release Xperia sola from Sony – the smartphone with a sense of magic Introducing “floating touch” navigation for magic web browsing without touching the screen Easily open apps and launch actions in an instant with NFC and Xperia SmartTags Reality Display with Mobile Bravia engine and fast capture camera boosted by a powerful dual-core processor 13 March, London, United Kingdom – Sony Mobile Communications today announced Xperia™ sola* as the latest addition to its portfolio of Android powered Xperia smartphones. Complete with Sony technology, premium entertainment and innovative floating touchTM navigation, the NFC enabled Xperia sola comes equipped with Xperia SmartTags, allowing consumers to change their smartphone’s settings and applications to fit their lifestyle in an instant. Xperia sola will be available to consumers globally in black, white and red in the second quarter. A floating touch of magic Making its smartphone debut exclusively on Xperia sola, Sony’s unique floating touch lets consumers navigate the web by hovering their finger above the screen so it acts like a moving curser, without actually having to touch the screen. Once the desired link is found it can be highlighted and a simple tap will load the page. Floating touch will evolve with new user functionality and applications through software updates and engagement with developers. Calum MacDougall, Head of Xperia Marketing for Sony Mobile Communications...
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...DIGITAL VIDEO PRODUCTION YKT 217 LECTURERS: Assc. Prof. Dr N.V. Prasad Dr Adrian Lee SHORT FILM VIDEO SCRIPT GROUP 2: NO. | NAME | MATRIC NO. | 1 | ADILA NORLIZ BINTI ZAINI | 115388 | 2 | TAN SOO CHIN | 115499 | 3 | NUR EMIRA BT SAIZALI | 115461 | 4 | WAN NUR NADIA BINTI WAN LAILA | 115507 | 5 | SYED MUHAMMAD FAIZ B SYED NASIR | 115495 | TITLE: WILL YOU? PLEASE, SAY I DO. SHOT NO. | ACTION | AUDIO/SOUND | SHOT SIZE | CAMERA MOVEMENT | TIME | 1 | A guy getting ready to go out.He is wearing his neck tie | No dialogueBackground music | MCU | NONE | 00:05 | 2 | He is wearing his jacket | No dialogueBackground music | MCU | NONE | 00:05 | 3 | He takes his car key on the side table | No dialogueBackground music Sound of someone grab key | MCU | NONE | 00:05 | 4 | He goes out from his room, close the door to meet the lecturer | No dialogueBackground music | MLS | NONE | 00:05 | 5 | He is entering the school of communication, opening door. | No dialogueBackground music | MLS | NONE | 00:05 | 6 | Focus on his shoe | No dialogueBackground music | ECU | | 00:05 | 7 | Walk in to corridor | No dialogueShoe stepsBackground music | | NONE | 00:05 | 8 | Standing infront the lecturer’s office | Background musicFade out musicDialogueLecturer: Get Out from my office!Fade in music | MLS | NONE | 00:05 | 9 | The lecturer is going out from her office | Background music | LS | | 00:05 | 10 | While walking to her car, someone gives balloons...
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...Bilbraut Communication is any message send through digital devices. It is fast and easier, the message can be stored in the device for longer periods of time, without being damage, and it can be done over large distances. Also it provides facilities like video conferencing wish save a lot of time, money, and effort. Some examples of digital communication are: E-mailing, texting, fax, teleconferencing, and videoconferencing. One of the most important digital tools that I think is very helpful is E-mailing. Email is a store-and-forward method of writing, sending receiving, and saving messages through computers. E-mailing is very fast and provides the receiver the opportunity to answer immediately. Email messages are very easy to locate and is a secure way of sending messages. Although it has its disadvantages like, Spam, and viruses, I still think that is a very efficient, easy and low cost way to transmit messages. Emailing is also one of the tools most used in schools and colleges, it allows immediate communication between the student and the professor. It’s the way of send important information like grades, or to give an advance absent notice. Another helpful digital tool is Teleconferencing. This is a telephone or video meeting between multiple persons in two or more locations. Teleconferencing allows people to participate in regional, national, or worldwide meetings without actually leaving their location. This meetings, are more flexibles as participants can join the conference...
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...Xperia™ U ST25i, ST25a White paper February 2012 White paper | Xperia™ U Purpose of this document Sony mobile product White papers are intended to give an overview of a product and provide details in relevant areas of technology. Document history Version February 2012 First released version Version 1 Sony Developer World For the latest technical documentation and development tools, go to www.sonymobile.com/developer. This White paper is published by: Sony Ericsson Mobile Communications AB, SE-221 88 Lund, Sweden www.sonyericsson.com © Sony Ericsson Mobile Communications AB, 2009-2012. All rights reserved. You are hereby granted a license to download and/or print a copy of this document. Any rights not expressly granted herein are reserved. First released version (February 2012) Publication number: 1257-8163.1 This document is published by Sony Ericsson Mobile Communications AB, without any warranty*. Improvements and changes to this text necessitated by typographical errors, inaccuracies of current information or improvements to programs and/or equipment may be made by Sony Ericsson Mobile Communications AB at any time and without notice. Such changes will, however, be incorporated into new editions of this document. Printed versions are to be regarded as temporary reference copies only. *All implied warranties, including without limitation the implied warranties of merchantability or fitness for a particular purpose, are excluded. In no event shall...
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...Ex-MBA 2011-2014 Semester -1 Subject: Technology in Business ------------------------------------------------- VIDEO CONFERENCING – A BOON TO COMPANIES TO REDUCE COSTS, TIME AND SAVE OUR ENVIRONMENT Completed By, Shantesh Varik Roll No: 2011G14 INTRODUCTION – Aim and Objective Videoconferencing is a virtual conference like setup using a number of telecommunication technologies which allow two or more locations to interact via two-way video and audio transmissions simultaneously. Videoconferencing is slightly different from videophone calls as it is designed to serve a conference rather than individuals. In a tight economy, with companies spending much less on IT, the tech giants will take growth wherever they can find it. The Wall Street Journal reported recently that Cisco and HP are in a pitched battle for customers for their high-end teleconferencing systems. According to the report, it's "one of the few technologies that has benefited from the downturn, growing 30% from last year as businesses look to reduce travel expenses." Cisco, HP, Nortel, and telepresence-focused players like Teleris have developed impressive, beautiful systems that make you feel like you're in the same room with your colleagues. The catch is that not only will you save money, but you'll also reduce your environmental footprint through reduced travel. These companies are cashing in on the business world's pressing need to cut costs, while also appealing to the desire to get green...
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