FINA case. Please use following materials attached to answer questions. Thank you.

Marriott Corporation: Cost of Capital Case Questions Each Question carries 5 points

1) Discuss Marriott’s financial strategy – what are the opportunities, what are the risks. Why is the hurdle rate so important for Marriott? Do you see parallels with Marriott’s business model and any other firm in today’s lodging industry? – Adam

2) Calculate the WACC of Marriott as a whole. Justify your choice of numbers. Saunaz & Kaylee

a. What is the cost of equity?

b. What is Marriott’s cost of debt?

c. What is Marriott’s WACC?

3) Can Marriott use a single corporate hurdle rate to evaluate investment opportunities in each of its lines of business? Why not? What happens if they do? Liwen Liu

4) Calculate WACC of Marriott’s individual divisions. Justify your choice of numbers. Rohan & Kaylee

a. Lodging division

b. Restaurant division

c. Contract Services division (this requires some imagination)

Guidelines:

1) Since the company is a going-concern with a long horizon, use long-term rates when estimating cost of debt for the entire company.

2) The relationship between asset beta and equity beta, where E is equity value and V is total value is given by: (This formula assumes debt-beta is zero.)

3) Assume a tax rate of 34%.

4) Arithmetic averages are better estimators of expected returns than geometric averages. Discuss this within your group and we will examine why in class.

5) Obtain the risk free rate from Table B and market risk premium from Exhibit 5.

6) Your report cannot exceed 5 pages in total. Handwritten reports will not be accepted

The adoption of the Constitution by the new federal government of the United States proved a paradox for those under the yoke of slavery. Many slaves had fought for the colonies during the American Revolution and deservedly longed for the freedom that they could see all around them as the eighteenth century drew to a close. Although an early antislavery movement had grown through such groups as the Quakers during the years of the war, the negotiations surrounding the Constitutional Convention of 1787 made it clear that the American opinion on slavery was closely linked to that of the now-vanquished British and seen largely as a necessary and natural condition for the African race.

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Watch the film “Africans in America-Revolution” and respond to the question in the discussion forum. Copy and paste to your web browser if the link is broken.

http://www.youtube.com/watch?v=n26NRPtD-xw

Based on the film Africans in America Revolution, how did George Washington, the first president of the United States, become a wealthy slave owner? How much did he spend on clothing his slaves? How did the American Revolution impact slavery? Your response must be 150 words minimum.

Discuss the role of Black soldiers in the American Revolution. Place your response in the discussion forum. You must cite page numbers from your textbook to receive credit

this is the link for the book https://drive.google.com/file/d/0B_aRCTTXJQeIdWV5M…

Below is a list from which you will select one topic for the Week Two assignment, another topic for the Week Three assignment, and a third topic for both the Outline of the Final Paper and the Final Paper. The topic you select for your Outline of the Final Paper and this Final Paper must be different from the topics you select for the Week Two and Week Three assignments.
The topics include:

• What do twin and adoption studies tell us about the effects of nature (i.e., genetic influences) and nurture (i.e., environmental influences) on human development? Select at least one of the main domains of human development (physical, cognitive, or social-emotional) for your answer.
• How much credit or blame do parents deserve for the way we are? Select at least one of the main domains of human development (physical, cognitive, or social-emotional) for your answer.
• To what extent are the lives of adolescents and young adults shaped by parental and peer influences?
• Why do we have a need to belong (to affiliate with others)?
• How do our bodies and minds change from early to late adulthood?
• What are the factors that affect our well-being as middle aged and older adults?
• Why are some people attracted to members of their own sex whereas others are attracted to members of the opposite sex?
• How do memory and intelligence change as we age?
• Does an infant’s temperament shape his/her cognitive and socio-emotional development?
• Are babies pre-wired for survival?
• Are adolescents more likely to engage in risk-taking behavior than older adults?
• Can physical exercise affect cognitive performance in old age? Consider the time of occurrence of physical exercise (i.e., earlier in life or during old age) in your answer.
• Are there personality traits related to longevity?
• Does bilingualism improve brain functioning?
• Why do students in the United States tend to under-perform in math and science?

Once you have chosen your topic, examine the various theories of human development learned in the course and choose one or two that best assist you in understanding the issues involved in your topic. In your assignment address the following:

• Identify some of the major domains of human development and how they are impacted.
• Examine the physical, biological, emotional, cognitive, and/or social factors that are affected.
• Identify the stages of development that are affected and describe the cultural and historical perspectives of partitioning the lifespan that influence the interpretations of the available data on the topic.
• Describe the influences of family, culture, and environment and the roles they play.

Be sure to examine the available research in human development before completing this assignment.

Writing the Final Paper

The Final Paper:

1. Must be eight to ten double-spaced pages in length (excluding title and reference pages), and formatted according to APA style as outlined in the Ashford Writing Center.
2. Must include a title page with the following:
   1. Title of paper
   2. Student’s name
   3. Course name and number
   4. Instructor’s name
   5. Date submitted
3. Must begin with an introductory paragraph that has a succinct thesis statement.
   1. You may use the introduction you developed during the Week Four assignment or a revised version if changes are deemed necessary.
4. Must address the topic of the paper with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
   1. Conclude with an answer to the selected question. Did the evidence you surveyed answer the question satisfactorily?
   2. Include an analysis of the strengths and weaknesses of the available evidence.
   3. Illustrate how each source fits specific sections of your Final Paper. The goal is to demonstrate that supporting evidence exists for statements that are made in the paper.
   4. If possible, suggest the course that future research should take if answers to the selected question are deemed less than conclusive.
6. Must use at least five scholarly sources, all of which must come from the Ashford University Library or Google Scholar.
7. Must include an annotated bibliography which briefly summarizes each article including the purpose of the investigation, its methodology, and results.
   1. Rely on the brief summaries of the articles (including the purpose of each investigation, its methodology and results) that you developed during Week Four to construct an organized summary of the scientific evidence that answers the question you selected.
   2. If possible, select peer-reviewed articles that summarize the evidence available in a given field of study (e.g., meta-analysis combines the findings of different studies to uncover trends, commonalities and differences).
   3. Order the articles in the way you think you will discuss them in your paper. Then develop a summary of the scientific evidence that answers the question you selected.
   4. You may reference your textbook and other required materials from the course; however, these will not fulfill the resource requirement.
8. Must document all sources in APA style, as outlined in the Ashford Writing Center.
9. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
   1. You may use the reference section you developed in the Week Four assignment as the final page of the paper.